There are 100 different ways to do everything in the IP, so when I find the way that works for me I like to write it down so I don't forget. This is how I like Instant Pot steel cut oats. The best part is that I can set the delay start the night before and we wake up to hot oatmeal!
1 c. steel cut oats
3 c. water
2 TB butter or coconut oil
pinch of salt
tiny splash of vanilla
You can also add spices like cinnamon, etc.
Place all ingredients in the pot, stir, and cook on (manual) high pressure for 4 minutes. Then let it naturally release pressure until the "pin" drops. Open the pot, stir, and serve (with butter and brown sugar!). When I first open the pot it seems "watery" a lot of times, but if you stir it up the water just stirs right in and you are left with creamy steel cut oats.
Also, a tiny bit of Amber/Emily's Caramel Syrup drizzled over the top is really yummy. Don't ask me how I know. LOL