Step 1: Sauté the Veggies: In a large soup pot or Dutch oven, heat butter and olive oil over medium heat. Add onion, celery, and carrots. Cook for 5–6 minutes, until softened. Stir in garlic and cook for 1 more minute until fragrant.
Step 2: Build the Broth: Pour in chicken broth and bring to a simmer. Stir in shredded chicken, diced tomatoes (if using), Buffalo hot sauce, smoked paprika, and cayenne pepper. Simmer for 10 minutes to allow flavors to meld.
Step 3: Make it Creamy: Reduce heat to low. Stir in heavy cream, followed by shredded cheddar cheese. Stir until cheese melts smoothly into the soup. Taste and adjust with salt, pepper, or more hot sauce if needed.
Step 4: Prepare Ranch Drizzle: In a small bowl, whisk ranch dressing with milk until smooth and pourable.
Step 5: Serve: Ladle soup into bowls. Drizzle with ranch sauce and add any garnishes you like.