Season pork loin with salt and pepper. Turn on a multi-functional pressure cooker (such as Instant Pot®) and select Saute. Heat olive oil until hot. Add pork loin and brown on each side for a total of about 5 minutes. Remove pork loin and set aside. Add balsamic vinegar to the pot and stir to deglaze, scrapping up all the browned bits.

Whisk 1/2 cup water and flour together in a small bowl and add to the Instant Pot®, stirring until smooth. Mix in cranberries, orange juice, 1/2 cup water, brown sugar, orange marmalade, jalapeno, 1/2 teaspoon salt, and cloves. Set pork loin on top. Close and lock the lid. Select high pressure according to manufacturer's instructions; Set timer for 12 minutes. Allow 10 to 15 minutes for pressure to build.

Release pressure using the natural-release method according to manufacturer's instructions, about 10 minutes. Release remaining pressure carefully using the quick-release method according to manufacturer's instructions, about 5 minutes. Unlock and remove the lid.

Remove the pork from the pot, cover with aluminum foil, and let meat rest for 5 minutes. Puree the cranberries using an immersion blender until smooth, or leave them whole if you prefer a chunky sauce.