Preheat your oven to 350°F. While it heats, remove the cream cheese from the refrigerator if it hasn't already softened to room temperature—this ensures it will blend smoothly into the dip without lumps. Drain the canned chicken thoroughly in a colander, pressing gently to remove excess liquid, then shred it with two forks into bite-sized pieces in a medium bowl.
To the shredded chicken, add the hot sauce, softened cream cheese, ranch dressing, and garlic powder. Stir everything together until the cream cheese is fully incorporated and the mixture is smooth and evenly combined. I like to use a rubber spatula and really work through the mixture to ensure no pockets of cream cheese remain—this prevents any unpleasant texture in the finished dip. Fold in the blue cheese and 3/4 cup of the cheddar cheese, stirring gently so the blue cheese stays in flavorful chunks rather than completely breaking down.
Transfer the dip mixture into a baking dish (an 8x8 inch or 9x9 inch dish works well). Spread it into an even layer, then top with the remaining 3/4 cup of shredded cheddar cheese in an even layer. Bake for 30 minutes until the dip is heated through and the top is golden and bubbly around the edges. The cream cheese will fully melt into the filling, and the cheese on top will turn golden brown and slightly crispy—this is what you're looking for.