Press the 'SAUTE' button, and set it to 'NORMAL'. Meanwhile, season one side of the roast with kosher salt, pepper, and garlic powder.
Once its displays, 'HOT', add oil and place the roast seasoned side down in the pot, brown on one side for 4-5 minutes. Do not try to move the beef, let it sear undisturbed. Season the other side with kosher salt, pepper, and garlic powder.
Flip and brown the other side for another 4-5 minutes.
Set the roast aside on a plate.
Next, add onions, along with a pinch of salt, sauté the onions until translucent, scraping the brown bits stuck at the bottom. As the onion sweats, it will release moisture which will help in loosening any browned bits. You can add a splash of broth if needed to help release the browned bits.
After 5-6 minutes, add the minced garlic, and saute another minute.
Add red wine, deglaze the pot, scrape off any remaining browned bits. It is important to remove the browned bits or else you may get a 'BURN' error.
Press 'CANCEL'. Add beef broth, along with Worcestershire sauce. Return the beef back to the pot along with any juices. Add rosemary and thyme sprigs.
Close the lid of the Instant Pot. Set the valve to 'SEALING'. Pressure cook on high for 1 hour. It will take some time for the pressure to build up (about 10 minutes), after which the timer will begin.
Let the pot depressurize for about 10 minutes, then do a quick release of any leftover pressure. Once the silver pin drops, turn the knob to 'VENTING' and open the lid away from you.
Add the potatoes and carrots on top.
Close the lid of the Instant Pot. Set the valve to 'SEALING'. Pressure cook on high for 10 minutes. It will take some time for the pressure to build up (about 13 minutes).
Let the pot depressurize for about 10 minutes, then do a quick release of any leftover pressure. Once the silver pin drops, turn the knob to 'VENTING' and open the lid away from you.
Remove the beef and veggies from the pot. Shred the beef roast or cut into chunks. Serve the shredded beef along with veggies. Drizzle the juices if desired or thicken the gravy as mentioned in the next step.
I like to drain the juices into a large bowl through a fine-mesh sieve and skim off the excess fat floating on top. You may skip this step and skim off the fat from the pot directly.
To thicken the juices: Switch the IP on 'SAUTE' mode, once the liquid comes to a boil, add the cornstarch slurry, keep stirring continuously until gravy has thickened. Season with salt and pepper, and other spices like garlic, onion powder, etc if required to add more flavor. If it has not thickened to your liking, add more cornstarch slurry.
Serve the pot roast with potatoes, carrots, and gravy. Enjoy!