Mix your cream cheese, eggs, vanilla, heavy cream, and sugar.
Divide the cheesecake mixture into two bowls.
In one of the bowls, add in your red velvet cake and red food coloring. Mix well
Prepare the crust, mixing the graham crackers, sugar, and melted butter.
Add parchment paper to the bottom of your springform pan. Spray lightly with non-stick cooking spray.
Add half of the graham cracker mixture to the bottom of your springform pan mold. Push down to flatten the graham crackers with your fingers or the back of a spoon.
Add your white cheesecake mixture to the top of your graham crackers about halfway of your springform pan. Then add about 1/4 cup of the red velvet cheesecake mixture to the middle of your cheesecake.
Add 1/4 cup of the white cheesecake mixture to the middle of your cheesecake
Continue alternating red and white filing until you have filled your springform pan mold. (For the second cheesecake, add the red velvet cheesecake mixture first, then ¼ cup white cheesecake, etc.)
Taking a toothpick, chopstick, or knife, starting from the center, move outward toward the pan creating straight lines. Once you have done this, start from the center and create a clockwise circle creating swirls moving toward the pan’s outside.
Add 1 1/2 cups of water to the bottom of your Instant Pot.
On the side, place your trivet on a flat surface. Place your cake pan on the trivet. Carefully transfer the trivet to the inside of the Instant Pot.
Close the lid on your Instant Pot and close the sealing valve.
Cook on High Pressure for 45 minutes. Once completed, allow a natural release for 5 minutes.
Carefully remove the trivet inside the Pot using the trivet handles with hot pads or a towel.
Transfer and cool in the fridge for at least 5 hours or overnight.
Remove from the fridge when ready to serve!
Plate, serve, and enjoy!