Cut the beef into about 1-inch bite-size pieces or use pre-cut stew meat.
Chop the potatoes, onion, carrots, and celery. This can be done the day before if desired.
Press the Sauté button. Wait until "Hot" appears on the front of the Instant Pot. Then add oil to the inner liner pot within the Instant Pot.
When the oil starts to sizzle, add the stew meat. Let it brown for a couple of minutes. Then turn the meat so it browns on all sides. Don't cook it all the way through. The goal is to just brown the outside of the meat.
Add the chopped onion and garlic to cook. Add additional oil, if needed. Cook until the onions are translucent.
Deglaze the pan by pouring in the wine. Scrape all the brown bits from the bottom of the pan. That adds flavor to the sauce and helps to prevent getting the "Burn" warning on the Instant Pot.
Add the potatoes, carrots, and celery.
Add the beef broth, Worcestershire, and chili sauce, followed by salt and pepper as well as Italian Seasoning.
Pressure cook the beef stew with high pressure for about 35 minutes.
Release the steam naturally for about 15 - 20 minutes. This time can vary.
If the gravy is too thin, mix 2 tablespoons of cornstarch with 1/4 cup of water and stir into the beef stew while it is hot.
Garnish with chopped parsley or cilantro.