In an 8-quart instant pot, add the chicken, chicken broth, water, onion, carrots, celery, garlic, bay leaf, fresh parsley, butter, chicken bouillon powder, thyme, salt, and pepper.
Stir to combine.
Set the instant pot on manual pressure for 12 minutes. When cooking time is over press the quick release button (you can choose to naturally release it as well).
Remove the chicken from the pot and place it on a cutting board to rest for a few minutes.
While the chicken is resting, add the egg noodles to the instant pot and press the sauté button.
While the noodles are boiling, shred the chicken.
Boil until the noodles are just turning al dente.
Add the shredded chicken back to the instant pot, remove bay leaf and serve.