Cook bacon in the air fryer at 400°F for 8-10 minutes until crispy, then chop into small pieces.
In a mixing bowl, combine softened cream cheese, sour cream, and ranch seasoning until well blended and smooth.
Fold in 1.5 cups of the shredded cheddar cheese, chopped bacon (reserve some for topping), and green onions.
Transfer mixture to an air fryer-safe baking dish and smooth the top.
Sprinkle remaining cheddar cheese, mozzarella cheese, and reserved bacon pieces over the top.
Air fry at 350°F for 10-12 minutes until the cheese is melted and the top is golden brown.
Let stand for 5 minutes before serving with chips, crackers, or vegetables.