Instructions

Insert a wire rack in the bottom of a multi-functional pressure cooker (such as Instant Pot(R)). Pour in water. Carefully place raw eggs onto the rack, fitting them in tightly. Close and lock the lid.
Select high pressure according to manufacturer's instructions; set timer for 4 minutes. Allow 10 to 15 minutes for pressure to build.
As soon as the timer goes off, hit cancel and release the pressure using the quick-release method according to manufacturer's instructions, about 5 minutes. Unlock and remove the lid, as leaving eggs in longer will result in overcooked eggs.
Transfer eggs to a large bowl using a serving spoon and cover with cold water. Let cool for 5 minutes. Peel while still warm and rinse off any shell pieces. Use immediately or store in the fridge.