In the instant pot, add tomatoes, enchilada sauce, onion, beans, green chilies, garlic, water, broth, cumin, chili powder, pepper, and bay leaves; gently stir. Add chicken breast on top and slight press down to cover with liquid, but do not press to the bottom of the pot.
Close the lid, press the pressure valve into the sealed position, then press MANUAL and set the timer for 8 minutes. Once time is up, allow to naturally release pressure for 5 minutes, then release the rest of the pressure (be careful, liquid may spray out).
Remove chicken and transfer to a cutting board. Using 2 forks, shred the chicken into pieces and then place back into soup; stir. Add cilantro and corn, then stir and let sit for 2 minutes.
To serve, sprinkle 1 TBS (or more if desired) of cheese over the soup. Garnish with a lime and whatever else you desire.
