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PdfUsing a chef's knife, cut the kernels from the ears of corn; you should have about 3 cups.
One at a time, stand each cob in a wide bowl, then use the back of the knife to scrape from top to bottom all around it, allowing the liquid to drip into the bowl. Add the kernels to the bowl, then cut each cob in half and reserve separately.
On a 6-quart Instant Pot, select More/High Sauté. Add the butter and let melt. Add the scallion whites, garlic, chili, and corn kernels and liquid.
Cook, stirring occasionally, until the chili is softened, about 7 minutes. Stir in the hominy, potatoes, broth, 1½ teaspoons salt and ½ teaspoon pepper, then distribute in an even layer. Add the corn cobs to the pot.
Press Cancel, lock the lid in place and move the pressure valve to Sealing. Select Pressure Cook or Manual; make sure the pressure level is set to High. Set the cooking time for 7 minutes.
When pressure cooking is complete, allow the pressure to reduce naturally for 10 minutes, then quick-release the remaining steam by moving the pressure valve to Venting. Press Cancel, then carefully open the pot.
Remove and discard the corn cobs. Select More/High Sauté, then stir in the cream and scallion greens and cook, stirring occasionally, for about 3 minutes. Taste and season with salt and pepper.