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Step 1
Season Chicken: Pat chicken breasts dry with paper towels. Generously season all over with salt and pepper. Set aside.
Step 2
Sauté Mushrooms: Select sauté mode on pressure cooker (Note for medium heat. Once heated, add olive oil and mushrooms. Stirring occasionally, cook until juices are released, a few minutes. Stir in cream, water, garlic, and cayenne until well-mixed. Turn off sauté mode.
Step 3
Pressure Cook: Add chicken breasts to pot in single layer, nudging aside mushrooms so that chicken breasts sit along bottom of pot, submerged in liquid. Secure lid and seal vent. Cook for 6 minutes (Note at high pressure, followed by 5-minute natural release. Manually release remaining pressure by turning knob to venting position. Uncover and transfer only chicken onto serving plates.
Step 4
Thicken Gravy: Stir remaining liquid in pot, and scoop 1/4 cup into small bowl. Combine with corn starch and stir until completely dissolved. Add corn starch mixture to pot. Gradually stir in parmesan cheese. Simmer on sauté mode until thickened to form gravy, about 5 minutes, stirring frequently. Turn off sauté mode. Add salt and pepper to taste.
Step 5
Serve: Spoon gravy on top of chicken. Garnish with fresh parsley, and serve (Note 6).