Add chicken breasts, black beans, corn, diced tomatoes, Rotel, chicken broth, chili powder, cumin, oregano, salt, and pepper to the inner pot. Stir gently to combine.
Secure the lid and set the vent to Sealing.
Select Manual/Pressure Cook (High Pressure) for 10 minutes.
When the cooking cycle finishes, allow a Natural Pressure Release (NPR) for 10 minutes, then carefully switch the valve to Venting to release any remaining pressure.
Open the lid. Remove the chicken breasts and place them on a cutting board. Use two forks to shred the chicken.
Return the shredded chicken to the soup pot. Stir well.
For a spicier soup, add 1/4 teaspoon of cayenne pepper with the other spices.
If you prefer a thicker soup, mix 1 tablespoon of cornstarch with 2 tablespoons of cold water and stir into the simmering soup during the final step until thickened.
This recipe is naturally gluten-free. For dairy-free, omit the cheese and sour cream toppings.