Combine water, rice vinegar, and salt in a multi-functional pressure cooker (such as Instant Pot(R)). Add potato cubes and gently stir. Place eggs on top of potatoes. Close and lock the lid. Select low pressure according to manufacturer's instructions; set timer for 1 minute. Allow 10 to 15 minutes for pressure to build.
Release pressure carefully using the quick-release method according to manufacturer's instructions, about 5 minutes. Unlock and remove the lid.
Use tongs to transfer cooked eggs to a bowl filled with cold water. Taste a potato cube to ensure they are cooked through; if not, leave potatoes in the hot water until softened. Drain potatoes in a colander.
Place cooked potatoes on a tray and allow to cool until safe to handle, about 30 minutes. Peel and dice eggs.
Combine eggs, celery, onion, mayonnaise, and black olives in a large bowl and mix well. Add cooled potatoes and stir gently to incorporate. Cover bowl and refrigerate at least 3 hours before serving.