Season the pork chops on both sides with salt, pepper, and garlic powder.
Press the “Sauté” button, ensuring that it is set to “More.” Once the display says “Hot,” add the olive oil.
Add seasoned pork chops and cook for about 3 minutes each side or until the sides are slightly browned. Remove from Instant Pot and set aside.
Add butter to Instant Pot and allow to melt. Add onion and bell peppers and stir. Add garlic and continue to stir until onions have softened, about two minutes.
Deglaze by pouring chicken broth into the pot and stirring with a wooden spoon, making sure to get all bits and pieces from the bottom of the pot.
Add Worcestershire sauce, steak sauce, hot sauce, ketchup, and thyme and stir.
Add pork chops back into the pot, laying them on top of the liquid.
Place the lid on the pot and set the valve to sealing. Press "Cancel" and then press "Pressure Cook" (or Manual) and set cooking time for 8 minutes on High Pressure.
Once timer is done, allow the Instant Pot to natural release for 10 minutes, then release any remaining pressure from the pot and remove the lid.
Press Cancel on the Instant Pot and remove the pork chops. Press “Sauté” on the Instant Pot and bring liquid to slight boil. In a separate bowl, create a thickener by whisking together 2 Tbsp cornstarch and 2 Tbsp water. Pour it into the liquid in the Instant Pot while stirring. Stir until thickened, about one minute.
Pour the gravy over the pork chops and Enjoy :)