Preheat your cast iron over coals or on a camp stove. Add in the diced bacon and cook until golden brown on the edges. Add the diced onions and bell peppers directly into the rendered bacon. Cook, stirring regularly, until the bacon is crisp and the vegetables are softened.
Pour in the bag of hash browns. Stir gently to incorporate the bacon and vegetables evenly throughout the potatoes. Season with salt and pepper. Cook, stirring only occasionally, until the potatoes are cooked through, about 5-10 minutes.
Gently press the potatoes down into an even layer across the bottom of the pan. Spoon the sour cream on top of the potatoes and spread it into another even layer, like you’re frosting a delicious bacon filled potato cake. Sprinkle the top generously with the cheddar cheese.
Reduce the amount of heat on the bottom of your Dutch oven to medium low. Place the Dutch oven lid on top and cook until the cheese is nice and melty. If you’re using coals, you can even put some on the top of the lid to help with this process. Once the cheese is fully melted, you’re good to dish up and serve your family!