Step 1

Turn on a multi-functional pressure cooker (such as Instant Pot®) and select Saute function for medium heat. When the display reads "Hot," add olive oil to coat the bottom of the pot. Add beef, oregano, and thyme; cook and stir until browned, breaking it apart as it cooks, 5 to 7 minutes. Add carrot, potato, onion, and garlic. Cook to soften, stirring frequently, about 5 minutes. Turn off Saute mode.

Step 2

Stir water, tomatoes with their juices, cabbage, vegetable base, salt, and pepper into the pot. Stir briefly together.

Step 3

Close and lock the lid. Select high pressure according to manufacturer's instructions; set timer for 20 minutes. Allow 10 to 15 minutes for pressure to build.

Step 4

Release pressure using the natural-release method according to manufacturer's instructions for 15 minutes. Release remaining pressure carefully using the quick-release method according to manufacturer's instructions, about 5 minutes. Unlock and remove the lid; stir. Serve while hot.