Sprinkle both sides of the pot roast with salt, black pepper and paprika and set aside.
Add oil and butter to the Instant Pot. When the oil is hot and has a shimmer, use tongs to add the roast (resist the urge to flip it for 3-4 minutes). The roast should have a beautiful golden brown sear. Turn the roast over and sear it on the opposite side. Transfer the roast to a plate.
Add the quartered onion and carrots. Cook 3-4 minutes or until vegetables begin to caramelize and brown. Add garlic and sear for 30 seconds.
Slowly add the broth (deglaze) while scraping the bottom of the pot with a wooden spatula.
Place the Instant Pot trivet over the vegetable/broth/wine mixture and set the Instant Pot to "Pressure Cook or Manual" on HIGH and set for 55 minutes.
Place the roast in the Instant Pot on top of the trivet.
Place the rosemary and thyme sprigs on the roast.
If adding root vegetables (to eat as a side) place them on the top of the roast and sprinkle with additional kosher salt and pepper.
our the broth over the vegetables and roast.
Place the lid on the pot and turn to LOCK position. Set the vent to the SEALED position.
When the cooking time (55 minutes on Manual High) is done, allow the Instant Pot to natural release. This will take about 10 minutes. When the float valve (red valve) drops, it is safe to open the lid.
Transfer the root vegetables to a platter, and (carefully) remove the roast by the handles of the trivet. Discard the herb sprigs and transfer the roast to the platter with the vegetables. Cover the platter with foil to keep the food warm.
Set the Instant Pot to "Sauté".
To make the gravy, use an immersion (or hand) blender to purée the liquid and vegetables in the bottom of the pot. (If an immersion blender isn't available, carefully purée the mixture in a regular blender, in batches.) If needed, season the gravy with salt & pepper, and cook the gravy for 3-5 minutes or until it thickens a little.
While the gravy thickens, use a fork to remove excess fat from the roast and the divide the roast into large chunks, for serving. Quarter the carrots.
Serve the root vegetables and roast with the hot gravy.