Bring a pot of water to a boil; add chicken and cook until chicken is no longer pink in the center, 10 to 15 minutes. An instant-read thermometer inserted into the center should read at least 165 degrees F (74 degrees C). Remove chicken from pot and place on a work surface; shred using 2 forks.
Heat a skillet over medium-high heat; cook and stir onion and bacon until onion is tender and bacon is cooked through, about 5 minutes.
Bring a large pot of lightly salted water to a boil. Cook noodles in the boiling water, stirring occasionally until tender yet firm to the bite, about 7 minutes. Drain, reserving some of the water.
Mix noodles, chicken, onion-bacon mixture, ranch dressing, cream cheese, and hot sauce together in the pot. Add reserved water if sauce needs to be thinned.