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Select the saute function on your Instant Pot and let your pot get hot.
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Meanwhile, in a small bowl, mix together the spices. Rub the chicken with the spice mixture. Reserve any extra spices.
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Coat the bottom of your Instant Pot with oil, and add chicken. Cook chicken on each side for only a minute or 2, to seal in the spices. Select cancel.
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Place chicken broth, lime juice, any leftover spices, and peppers on top of the chicken. Secure the lid.
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Select manual, and cook on high pressure for 7 minutes. Once cooking is complete, use a quick release using a towel to cover the vent to prevent a mess. Make sure to completely let out the steam.
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Open the lid, pour in coconut cream or milk. Mix together the water and arrowroot starch, and add to thicken the sauce. If you want an even thicker sauce, add in another tbsp of arrowroot.
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Salt to taste, add in any additional lime juice for more flavor.
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Garnish with cilantro and serve over rice, cauliflower rice, vegetable noodles, or pasta.