Set the Instant Pot to the Saute setting, add olive oil. Once hot, add ground beef cook until browned while stirring often to break up pieces, about 5-7 minutes. Turn off Saute setting.
Add 1 cup of water and scrape the bottom of the pan to loosen any pieces that are stuck. This helps avoid the dreaded "Burn" notification on the Instant Pot. Add tomato sauce and all seasonings, stir.
Break spaghetti noodles in half so that they fit in the Instant Pot. Layer them flat on top of the ground beef, but do not stir. Pour in the remaining 2 ½ cups of water.
Place the lid on top, seal the vent, and use the manual setting to cook on high with the timer set to 8 minutes. Once the timer is done, quick release (and be sure to wear an oven mitt so the hot steam does not burn you!)
Remove the lid and stir spaghetti. Serve with freshly grated Parmesan on top.