Turn pot on saute mode. Add in olive oil. Add in sliced onion and bell peppers. Saute about three minutes.
Add chicken breast on top. Frozen can be added for the same cook time you do not need to add more time. Pour in chicken broth.
Add in water to fill line. Add entire packet of fajita seasoning. Stir well.
Turn off saute mode. Place lid on the instant pot. Turn valve to sealed position. Press manual or pressure cook button and set to 20 minutes. After the timer has counted down and beeps release the pressure.
Serve with a side of tortillas, sour cream, and cheese of choice.
Notes
You can use chicken thighs in place of breast if you would like.