Sauté beef stew meat in Instant Pot with oil until browned for flavor. Set aside.
Step 2: Sauté Onions & Garlic
In the same pot, sauté chopped onion and garlic until translucent and fragrant.
Step 3: Combine Ingredients
Return beef. Add carrots, potatoes, broth, red wine (optional), tomatoes, bay leaves, thyme, salt, and pepper. Stir well.