Set your Instant Pot to 'saute' mode, then add the bacon to the pot and cook until crisp. Remove the bacon from the pot and set aside, then drain the bacon grease from the pot.
Add the chicken broth to the pot and whisk to scrape up the browned bits from the bacon, then add the pumpkin, coconut milk, 1 teaspoon salt, sage, ginger, and pepper and whisk to combine.
Place the lid on the Instant Pot and make sure it is sealed, then set to cook for 7 minutes. Once the timer goes off, you can either release the pressure manually or let it release naturally.
Stir the lemon juice into the soup and taste for seasoning, then add more salt and pepper, if needed. Serve with crumbled bacon and fresh chopped sage, if desired.