Set the instant pot to saute and add the olive oil and 1 tbsp of the butter. When melted, add the onion and soften for around 3 minutes.
Add the garlic and thyme and cook for another minute.
Now add the mushrooms and cook for a further 3 minutes (stirring occasionally). Season to taste.
Add the rice and cook until it turns clear (around 1 minute).
Now add the wine if using and cook until the alcohol evaporates (around 2 minutes).
Add the stock and stir together. Now put the lid on and set the pot on high pressure for 4 minutes.
Leave under pressure for another 4 minutes and then do a quick release.
Remove the lid and add the spinach and peas. Allow to wilt for a couple of minutes and then stir through the parmesan. Add the remaining tbsp of butter and when its melted, stir into the rice.
Serve straight away and enjoy.