Coat the beef: In a large mixing bowl, add 24 oz beef chuck and 1 tbsp flour. Toss to coat evenly.
Sear the beef: Turn your Instant Pot to the ‘Sauté’ program. Once it’s hot, add 2 tbsp olive oil and the beef to the pot. Sear for 5 minutes, flipping halfway through to brown both sides. Transfer to a plate and set aside.
Sauté the vegetables: Add 2 oz onions and 1 tbsp garlic, and cook for 1 minute, stirring constantly. Add 1 tbsp butter, 1/2 tsp paprika, 1/2 tsp salt, 1/2 tsp black pepper, 1 1/2 tsp gravy mix, and 1 tsp tomato paste. Stir for another 2 minutes to toast the spices.
Deglaze the pot: Add the beef back in and stir for 5 minutes to coat the beef with the spices. Add 3 fl oz red wine and allow the alcohol to evaporate while scraping the pot.
Slow-cook the beef: Add 2 cups chicken broth to the pot. Stir a couple of times and cover with the lid. Seal the steam valve, turn on the ‘Meat Stew’ program, and cook for 40 minutes.
Add the vegetables: Carefully turn the valve knob to release the steam before opening the lid. Add 12 oz potatoes, 8 oz carrots, and 6 oz green peas, and stir. Cover with the lid, seal the valve again, and cook for 15 minutes on the ‘Meat Stew’ program.
Reduce the sauce: Release the steam and open the lid. Turn on the ‘Sauté’ program and cook for 10 minutes to reduce the sauce, stirring occasionally.
Garnish and serve: Ladle the beef stew to a deep dish or a bowl. Sprinkle with freshly chopped parsley and serve.