Turn on the Instant Pot and select sauté mode. Add olive oil and heat for 1 minute.
Add ground beef and cook for 4 to 5 minutes, breaking it apart until browned. Drain excess grease if needed.
Add chopped onion and minced garlic. Cook for 2 to 3 minutes until softened and fragrant.
Add diced potatoes along with salt, pepper, paprika, and oregano. Stir well to combine.
Pour in beef broth and scrape the bottom of the pot to remove any browned bits.
Close the lid and set the valve to sealing. Cook on high pressure for 8 minutes.
Allow a quick pressure release once cooking is complete. Open the lid carefully.
Stir gently. Add cheese if desired and allow it to melt before serving. Garnish with parsley.