To your electric pressure cooker add all ingredients, stir to combine to make sure all ingredients are mixed well and that chicken is completely covered.
Set to high pressure and cook on manual for 20 minutes.
Allow pressure to release naturally for 8-10 minutes and then turn valve to release any remaining pressure. Make sure to use the back of a wooden spoon or thick hand towel to release remaining pressure.
Shred chicken when tender with two forks. Season to taste with any salt and pepper, if desired.
If you'd like a thicker sauce, combine 2 tbsp arrowroot powder (or any starch to thicken) with 2 tbsp broth from pot and mix until starch dissolves (this is to create a "slurry"). Pour into Instant Pot and mix to combine with shredded chicken.
With the sauté function on and while stirring, slowly pour the slurry into the shredded chicken, stirring, until the sauce has thickened, about 2 minutes.