Brown the mushrooms: Heat a large cast iron or nonstick skillet over medium-high heat. Add the sliced mushrooms to the dry pan. As they begin to release their moisture, sprinkle with ½ teaspoon salt. Cook, stirring occasionally, until the liquid has evaporated and the mushrooms are nicely browned. Remove from the heat and set aside.
1-2 pounds mushrooms, white or cremini,
Sauté the shallots: Set the Instant Pot to Sauté. Add the olive oil and shallots and cook, stirring frequently, until softened and lightly golden, about 3 minutes.
1 Tbsp olive oil, 2 shallots
Add the rice and wine: Add the Arborio rice and stir to coat with the oil. Pour in the white wine and cook, stirring, until it has almost completely evaporated, about 1 minute.
1 ½ cups Arborio rice, ½ cup dry white wine
Add the broth: Pour in the vegetable or chicken broth and stir briefly, making sure the rice is submerged.
4 cups chicken broth
Pressure cook: Secure the lid and set the valve to Sealing. Cook on High Pressure for 5 minutes. When cooking is complete, allow a 4-minute natural release, then carefully turn the valve to Venting to release the remaining pressure.
Finish the risotto: Remove the lid and stir in the remaining 1 teaspoon salt, Parmesan, butter, and the browned mushrooms until the cheese and butter have melted and the risotto is creamy. Stir in the parsley or chives. Taste and season with black pepper and additional salt as needed.
1½ tsp sea salt, ½ cup shredded Parmesan cheese, 4 Tbsps butter, 1 Tbsp chopped fresh parsley or chives
Serve immediately with additional Parmesan cheese, if desired.