Add all of the ingredients EXCEPT the cornstarch, water, and red pepper into your instant pot liner.
Secure the lid, set to sealing, and set on high pressure for 7 minutes.
When the pressure cycle is complete, do a quick release.
Press cancel, and select saute.
Add the cornstarch slurry and the red pepper slices. Let simmer on saute for 3-4 minutes until sauce is desired thickness and veggies softened to desired tenderness.
Serve with noodles, rice, or cauliflower rice - your choice!