Heat the instant pot on saute mode. Melt the butter. Add the onions and garlic and saute for 5-7 mins.
Add in the rice and stir to coat. Add the chicken broth, thyme, and salt and stir well. Lock the lid and cook on high pressure for 6 minutes.
Quick release the steam and open the lid. Stir in the peas and parmesan (or Kite Hill cream cheese), and serve with fresh chopped parsley if desired. Enjoy!
