Before you begin chopping your vegetables, set your Instant Pot to Sauté . This way when you are done prepping your carrots and onion, it will be hot and ready for you to put the vegetables in. (Read the notes to learn how to skip this step.)
Once the Instant Pot says "Hot" add the butter and stir quickly, so that it doesn't burn. Add the chopped vegetables (carrots, onion, and garlic). Sauté for 5 to 7 minutes, stirring regularly to prevent burning, until the carrots are tender. Turn Instant Pot off.
In this order, add the chicken stock, rice, and set the chicken on top (please be sure to see the note about the chicken). Close the Instant Pot and set to High, Manual, 10 minutes. (Make sure that it is set to seal on top.) It will take the Instant Pot about 10 minutes to come to pressure. Once it is done cooking, let the Instant pot have a natural pressure release for 10 minutes (be sure to watch the time), then turn to venting until all the pressure has fully released. (Between coming to pressure, the cook time, natural release, and quick release it will be about 34 minutes.)
While the Instant Pot is doing it's job, make your homemade Condensed Cream of Chicken Soup. (Read the notes to learn how to skip this step.) In a small saucepan over medium low heat, melt the butter. Once melted, whisk in the flour.
Gradually whisk in the chicken stock. Stir in the milk and the spices. Continue stirring, bringing the mixture to a simmer. Simmer for 5 minutes while stirring to prevent burning .
When the 10 minutes is up and you have vented and fully released the pressure of your Instant Pot, open it. Remove the chicken, cut it to bite sized pieces (or shred in the IP). Return the chicken to the IP, add the peas, and the Cream of Condensed Chicken Soup. Stir to combine and enjoy.