Lightly grease the slow cooker with nonstick cooking spray and add 2 tablespoons water to the bottom.
In a small bowl, combine the olive oil, ground cumin, ancho chili powder, garlic powder, onion powder, salt, dried oregano, and smoked paprika.
Rub the spice–oil mixture all over the chicken breasts, then place the seasoned chicken in the slow cooker, adding any leftover mixture from the bowl.
Cook on HIGH for 2–4 hours or on LOW for 6–7 hours, until the chicken is tender and easily shreds; avoid overcooking.
Remove the chicken to a cutting board and let rest 5 minutes, then shred with two forks. Drain excess liquid from the slow cooker and return the shredded chicken to it.
Top the shredded chicken with the cubed cream cheese and sprinkle the dry ranch seasoning evenly over the top.
Cook on HIGH an additional 20 minutes, then stir until the cream cheese melts and coats the chicken evenly; add hot sauce to taste and stir to combine.
Serve as desired (tacos, burritos, enchiladas, etc.).