In a 6-qt. electric pressure cooker, combine the first 7 ingredients. Lock lid; close pressure-release valve. Adjust to pressure-cook on low for 3 minutes. Quick-release pressure. , Select saute setting, and adjust for high heat; bring liquid to a boil. In a small bowl, mix cornstarch and water until smooth; gradually stir into carrot mixture. Cook and stir until sauce is thickened, 1-2 minutes.