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Step 1
Cut the aromatics and beef. Dice 1 medium yellow onion, mince 2 garlic cloves, and place both in a medium bowl. Trim 2 1/2 pounds beef chuck and cut into 1 1/2-inch pieces.
Step 2
Season and sear the beef in two batches. Toss the beef with 1 1/2 teaspoons kosher salt and 1/2 teaspoon black pepper. Heat 1 tablespoon of the vegetable oil in an Instant Pot or electric pressure cooker on the Sauté setting until shimmering. Add half of the beef and sear undisturbed until browned on the bottom, 7 to 10 minutes. Transfer with tongs to a large plate. Repeat with the remaining 1 tablespoon oil and beef.
Step 3
Soften the aromatics. Add the onion and garlic to the cooker and season with salt and pepper. Cook, stirring occasionally, until softened, 3 to 4 minutes. Meanwhile, cut the vegetables.
Step 4
Cut the vegetables. Peel 3 medium carrots and cut on a slight diagonal into 1 1/2-inch pieces. Quarter 3 medium Yukon Gold potatoes (you want about 1 1/2-inch chunks).
Step 5
Add the seasonings and liquid. Add 1 tablespoon tomato paste and 1 teaspoon dried thyme to the onions and cook until the tomato paste is darkened in color, about 1 minute. Add 1/2 cup beef broth and 2 tablespoons Worcestershire sauce and stir to combine, scraping up any browned bits.
Step 6
Add the vegetables and seared beef. Add the carrots, potatoes, seared beef, and any accumulated juices from the beef, and stir to combine.
Step 7
Cook on HIGH pressure for 25 minutes. Lock the lid on and check that the valve is set to seal. Set to cook for 25 minutes on HIGH pressure. It will take 7 to 10 minutes to come up to pressure.
Step 8
Natural release pressure for 10 minutes and make the cornstarch slurry. When the cook time is up, let the pressure naturally release for 10 minutes. Meanwhile, whisk 1 tablespoon cornstarch and 1 tablespoon water together. Coarsely chop some fresh parsley leaves for garnish if desired.
Step 9
Release the remaining pressure and thicken the sauce. Quick release any remaining pressure. Carefully open the pressure cooker and turn on the Sauté function. Stir in 3/4 cup frozen peas and the cornstarch mixture and simmer, stirring occasionally, until the sauce is thickened, 1 to 2 minutes.
Step 10
Season and serve. Taste and season with salt and pepper as needed. Serve garnished with the parsley if desired.