Add the rest of the ingredients to the Instant Pot.
Close and lock the lid, making sure it is set to "sealing."
Set your Instant Pot to Pressure Cook for 14 minutes. This will result in tender peas.
Allow your peas to cook completely.
Allow your peas to naturally release for at least 20 minutes.
Manually release any more pressure, then remove the lid.
Taste your peas, adjusting the salt level as desired.
Remove and discard the bay leaf. Serve warm, topping with the ham.