It is not possible to fully hide your Instagram following list while keeping your account public. Instagram does not offer a direct feature to hide the following list without switching your account to private. When your account is private, only approved followers can see your posts and the list of accounts you follow. If you want to keep your account public and still control who can see your following list, one workaround is to block or restrict specific users. Blocking a user will prevent them from seeing your profile and following list, while restricting limits their interactions without fully blocking them. However, this requires managing individual users rather than hiding the list from everyone. In summary:

• To completely hide the following list, you must switch to a private account.
• Without a private account, you can use blocking or restricting to hide your following list from specific users.
• There is no official way to hide the following list on a public Instagram account.