Set your Instant Pot or Electric Pressure Cooker to saute mode and add the olive oil.
Season the beef with salt and pepper and add to the hot pot, just so the beef covers the bottom of the pot (Don't overcrowd as this will prevent the browning process. Brown the beef in batches if necessary.).
Brown the beef pieces for about 2 minutes on each side just until they're beautifully caramelized, sprinkling the flour over the beef as it browns, about 1 teaspoon at a time.
Remove the beef from the pot to a plate after it has browned (don't worry about cooking it through at this point!) and add the onions, garlic, carrots and celery, and the thyme and paprika to the pot.
Stir the vegetables around to catch all the drippings left in the pot from the meat and add the wine to help you scrape all the brown bits off the bottom of the Instant Pot (this will prevent the burn notice).
Add the beef back into the pot.
Add the Worcestershire Sauce, the tomato paste, and tomato sauce. Give everything a good stir.
Add the tomato sauce, the beef stock and the potatoes.
Give everything a good stir, scraping any bits off the bottom of the pot.
Make sure the potatoes are nicely nestled into the liquid and add the lid to the Instant Pot, setting the valve to sealing.
Set the Instant Pot to pressure cook for 11 minutes on high pressure. It will take about 10 minutes to come to pressure.
Once the cooking is done, release the pressure manually and stir well before serving immediately.
Serve in deep bowls with a piece of crusty bread for dipping, and a sprinkling of fresh parsley for garnish (if desired).