Add all ingredients to the inner pot of the Instant Pot. Toss them together. Close the lid and set the valve to "sealing".
Set the Instant Pot to "Pressure Cook" or "Manual" for 8 minutes. After it's done cooking, allow the pressure to release naturally for 10 minutes, then use a quick release to let any remaining pressure out.
Remove the lid and use an immersion blender to puree the apple mixture. Or, you can carefully transfer the apple mixture to a blender and blend until pureed.
Transfer the apple puree into an airtight container and let apple butter cool before placing in the fridge or freezer for storage.
Notes
This does not include time for your Instant Pot to come to pressure.