Turn on the Instant Pot and select the "Sauté" function. Heat the olive oil in the pot.

Add the cubed beef and sear it on all sides until browned. This will take about 5-7 minutes. Remove the beef from the pot and set it aside.

In the same pot, add the chopped onion, carrots, and celery. Sauté for about 3-4 minutes until the vegetables begin to soften.

Stir in the minced garlic and cook for an additional 30 seconds until fragrant.

If using, add the red wine and allow it to simmer for a couple of minutes, scraping up any browned bits from the bottom of the pot.

Return the seared beef to the Instant Pot and add the diced potatoes, butternut squash, green beans, frozen peas, dried thyme, dried rosemary, salt, and black pepper.

Pour in the beef broth, making sure the ingredients are mostly submerged.

Lock the Instant Pot lid in place and set the valve to the sealing position. Select the "Pressure Cook" or "Manual" function and set the timer for 35 minutes on high pressure.

Once the cooking cycle is complete, perform a natural pressure release for about 10-15 minutes. Then, carefully switch the valve to the venting position to release any remaining pressure.

If you'd like a thicker stew, you can create a slurry by mixing 2 tablespoons of flour with a few tablespoons of water until smooth. Stir the slurry into the stew and select the "Sauté" function again. Cook for a few minutes until the stew thickens.

Taste and adjust the seasoning with salt and black pepper, if needed.

Serve your Copycat Panera Bread Instant Pot Beef Stew hot, garnished with chopped fresh parsley for a burst of color and flavor.