In a large pot or Dutch oven, add the ground beef. Cook and crumble it for 6 to 8 minutes until no longer pink. Drain and set it aside.

Melt 1 tablespoon of butter in the same pot. Add the carrots, celery, onions, dried basil, and dried parsley. Stir and saute for about 10 minutes until tender.

Add the potatoes, ground beef, and chicken broth to the pot. Bring to a boil, reduce heat, cover, and simmer until potatoes are tender, about 10 to 12 minutes.

In a separate small pan, melt 3 tablespoons of butter on medium-low heat. Add the flour and stir continuously for 3 to 5 minutes until bubbly. Stir into the soup, bring to a boil, and cook for 2 minutes.

Reduce heat to low. Stir in Velveeta, milk, salt, and pepper. Once cheese melts, remove from heat. Stir in sour cream.

Top with onion rings, green onions, and bacon if desired. Serve warm.