Place a 12-inch cast iron skillet over medium heat. Add the cream cheese, hot sauce, and 2 tablespoons of the ranch seasoning to the skillet and stir until melted and combined.
Remove from heat and stir in the chicken and vegetables. Stir to coat in the cream cheese mixture. Spread mixture evenly across the pan.
Sprinkle with cheddar cheese.
Top with a single layer of tater tots and sprinkle remaining ranch seasoning over the tots.