Open Instagram and go to your profile
Tap the menu icon
Go to Settings and privacy
Open Privacy
Check your account type
Switch to a private account if you want to limit who can see your following list
Remove followers you do not want to see your following list
Block specific users if you want them to have no access to your profile
Restrict users if you want to limit what they can see
Hide your activity by avoiding public interactions on posts and stories
Use a separate account for private browsing if needed
Keep in mind Instagram does not offer a direct setting to fully hide your following list from all users