In your 6qt instant pot insert add in 1 tbsp of butter & 2 tbsp olive oil. Add in 1/4 cup chopped yellow onion (or shallots) & 3 cloves garlic. Press the sauté function on medium. Sauté for 2 minutes.
While sautéing slice 8 baby Bella Mushrooms about 1 1/2 cups. 1/2 large red pepper in strips, 1 large zucchini and 1 large summer squash. Then add into the instant pot insert and toss to coat in the garlic mixture. Sauté for another 2 minutes. Adding in 1 tsp salt, 1 tsp basil, 1/2 tsp onion powder, 1/2 tsp garlic powder, 1/2 tsp pepper & 1/8 tsp cayenne pepper & pepper. Mix until combined. Add in your 2 cups of arborio rice to toast it before continuing to cook it on high pressure. You will continue you to stir it occasionally for 2 minutes.
Then you will deglaze the insert bottom with white wine. Push some of the risotto mixture to the side & pour the 1 cup white wine in. Then with your spoon scrap the bottoms of the insert to make sure nothing is sticking. It will be easy once the wine is poured in. (this step it very important so it does not burn when at high-pressure)
Then pour in 4 cups of chicken broth, give it a good stir, again making sure nothing is stuck on the bottom. Then place lid on & secure the seal valve.
After place on high pressure for 5 minutes. While the Risotto is cooking, place your shrimp in a bowl. Pour juice of 1 lemon on top, sprinkle salt, pepper, onion powder & garlic powder on top. Toss & set aside. (take tails off if you'd like)