Place broccoli, onion, carrots, salt, and chicken broth into your Instant Pot.
Place lid securely on and lock closed. Make sure valve on top is on "sealed".
Place on manual high pressure for 15 minutes.
Once done, do a quick release (place a towel on top, just in case).
When pin drops, open lid and stir in the milk/heavy cream.
Turn Instant Pot back on and press saute. Allow mixture to come to a boil.
Slowly stir in the cheese, allowing to melt fully.
Stir in the hot sauce.