Turn your Instant Pot on saute mode and click more to ensure the red light is by MORE.
While the pan is heating, make your dredge for the meat. You’ll need 2 cups flour with salt and pepper. Coat each side of cubed steak with flour. (Or just eyeball how much you think you’ll need)
When the screen reads hot, add your oil to the inner pot. Place cubed steak in pot and allow to brown on both sides for about 2-3 minutes each. When finished, remove and saute remaining pieces of meat. You may need to add more oil along the way.
When the meat has sauteed, add about 2 TBS of oil of choice and remaining flour (about 2-3 TBS) to make a roux for gravy. Allow for the flour to cook down for about a minute before adding in the beef broth.
Add in 2-3 cups of beef broth and whisk together until the sauce starts to thicken a little. If it get too thick, add more liquid. You want this to be a littler thinner of a gravy. This will continue to thicken during the pressure cooking.
Add cubed steak in with the gravy covering as much as the meat as you can and close lid and lock the valve on seal.
Select meat/stew and adjust time to 30 minutes.
When time is up, all for a natural release of the pressure for about 8-10 minutes. After the time, release any remaining pressure and open pot.