Remove the chicken from its packaging. Be sure to remove the giblets and any packaging that is inside the chicken. Then pat the chicken very dry all over with paper towels. Rub the chicken with olive oil.
4 pounds whole roasting chicken, 1 tablespoon olive oil
In a small bowl, whisk together the salt, paprika, garlic powder, onion powder, and black pepper. Sprinkle all over the chicken.
1 teaspoon kosher salt, 1 teaspoon paprika, 1 teaspoon garlic powder, 1 teaspoon onion powder, 1/2 teaspoon black pepper
Place the trivet insert into the bottom of the Instant Pot. Add the chicken broth. Place the chicken on top of the trivet. Cover and seal the Instant Pot. 1 cup chicken broth or water
Select Manual and High Pressure and set the cooking time for 20 minutes. (You will want to do 5 to 6 minutes for each pound of chicken.) Allow the Instant Pot to come to pressure (this will take about 15 minutes), and then it will begin the 20-minute cook time. Once the cooking time has finished, do a natural pressure release for 10 minutes. Then vent the Instant Pot for a manual pressure release to let it finish releasing the remaining pressure, if necessary.
Remove the chicken from the Instant Pot. If desired, transfer it to a rimmed baking sheet and place it under the broiler for a few minutes to brown the skin, keeping a close eye on the chicken so it does not burn.
Let the chicken rest for 10 minutes before slicing and serving so the juices have a chance to redistribute and settle.