Heat olive oil in a large pot over medium heat. Add sliced salchichón and cook for about 3–4 minutes, allowing it to brown slightly and release its flavour.
Add the ham, onion, bell pepper, and garlic. Sauté until the vegetables become soft and aromatic.
Stir in the tomato or tomato sauce, Sazón, adobo, oregano, and bay leaf. Mix well and cook for another 2–3 minutes to build flavour.
Pour in the chicken broth and water, then add the potatoes. Bring everything to a gentle boil.
Reduce heat to medium-low and simmer until the potatoes start to soften, about 15 minutes.
Add the noodles and cook until they are tender and the soup slightly thickens, around 8–10 minutes.
Taste and adjust seasoning with salt and pepper.
Remove the bay leaf and serve hot, garnished with fresh cilantro or a squeeze of lime.