Turn on your Instant Pot and and press the “Sauté” button.
Once warmed up, add the bacon and cook, stirring occasionally until browned and crispy. Carefully remove from pot and transfer to a paper towel lined plate - but leave the bacon grease in the pot!
Add onion and garlic and stir frequently for 3-4 minutes, or until onions have softened and garlic is fragrant (but not burned).
Add the bacon back into the pot along with the stock, corn, potatoes, thyme, white pepper, cayenne and turmeric. Stir to combine, make sure the valve is sealed, and then change the setting to "Pressure Cook" and set the timer for 10 minutes.
When it's done cooking, use an oven mitt or towel to carefully move the valve to the “Vent” setting and let it release all the pressure that’s built up. It will be a loud whistling sound, and may take a few minutes before it stops.
While it's venting, combine heavy cream and flour in a measuring cup or small bowl and whisk to combine.Note: You want to add the flour (or corn starch) in the cold cream before adding to the pot because if you add it to the hot soup, it will just clump.
Change the setting back to “Sauté” and bring to a boil. Pour the heavy cream mixture in the pot and stir to combine. Let cook for 5 minutes to thicken a little, stirring occasionally. Salt and pepper to taste.
Serve immediately, and garnish with fresh chives. Enjoy!