Vegetarian Deconstructed Peppers

Turn on a multi-functional pressure cooker (such as Instant Pot®) and select Saute function. Add oil once hot; add bell peppers and onion. Saute until tender, about 5 minutes. Add beef substitute; stir and break into crumbles. Cook and stir until browned, 5 to 7 minutes. Stir in diced tomatoes, tomato sauce, and taco seasoning until combined.

Pour chicken broth and rice into the pot. Hit Cancel. Seal and lock the lid into place.

Select high pressure according to manufacturer's instructions; set timer for 10 minutes. 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. Serve immediately and garnish with Mexican cheese, sour cream, black olives, and avocado.