Place the butter in the Instant Pot and turn to saute. When it's nearly melted, add the shallot and cook, stirring often, until it softens, about 3 minutes.

Stir in the garlic and let cook 30 seconds. Pour in the wine to deglaze, using a wooden spoon to scrape up any stuck on bits from the bottom of the pot.

Stir in the rice, salt, pepper, and saffron. Pour in the stock. The rice should be completely submerged; if not, add more stock or water until it is.

Cover and seal the Instant Pot. Cook on high pressure (manual) for 6 minutes—the pressure will build, then the 6-minute timer will begin. Once the timer goes off, let the pressure release naturally for 5 minutes, then vent to release any remaining pressure.

Carefully open the pot. Stir in the Parmesan, lemon zest, lemon juice, and thyme. Taste and adjust seasoning as needed. Depending upon your stock, you may want more salt and/or pepper.

If the risotto is thinner or the rice chewier than you would like, turn the Instant Pot OFF, then back to SAUTE. Let simmer for a few minutes more, stirring very frequently to prevent sticking. The risotto should be creamy and the rice should be tender but still maintain a little bite (you don’t want it to be mushy). Turn OFF. Let the risotto cool a few minutes (it will thicken a bit more). Serve hot with additional Parmesan and herbs.