Set a 6-qt Instant Pot® to the high saute setting. Heat olive oil; add ground beef and cook until browned, about 3-5 minutes, making sure to crumble the beef as it cooks; drain excess fat.
Add onion and bell pepper, and cook, stirring frequently, until tender, about 2-3 minutes. Stir in garlic, paprika and oregano until fragrant, about 1 minute.
Stir in beef stock, tomato sauce and pasta; season with salt and pepper, to taste. Select manual setting; adjust pressure to high, and set time for 5 minutes. When finished cooking, quick-release pressure according to manufacturer’s directions.
Stir in cheese and heavy cream until cheese has melted, about 1-2 minutes; stir in parsley.