Remove the turkey breast from the package, and cut away any netting if you're using a boneless turkey breast. (Do not cook the turkey in the net!) Rub the olive oil on both sides of the turkey breast, and season both sides generously with salt and poultry seasoning.
Pour 1 cup of water into the bottom of the Instant Pot, and place a trivet over that. (I use the one that came with my Instant Pot Duo.) Set the seasoned turkey breast on top of the trivet.
Secure the lid and move the steam release valve to "Sealing." Use the Manual or Pressure Cook button to cook at high pressure for 40 minutes. (Cook time is determined by the size of your turkey breast; I recommend starting with 8 minutes per pound.) It will take 10 -12 minutes for the pot to pressurize, so it will simply read "ON" until then.
When the cooking cycle is complete, let the pressure release naturally for 10 minutes. When the screen reads "LO:10" you can move the steam release valve to "Venting" to release any remaining pressure. When the floating valve drops, it's safe to open the lid.
Use an instant read thermometer to check the internal temperatuere of the turkey breast. You want the temperature to be at least 160ºF, knowing that it will continue to rise to 165ºF as it rests. If the turkey isn't done, you can return the lid (be patient, as the floating valve will need to lower before you can seal the pot again) and cook for 5 more minutes, until the turkey reaches a safe internal temperature.
For a more golden turkey breast, place the turkey on a baking sheet and set it 6 inches under your oven's broiler. Watch it closely, as it will brown quickly, within 5 minutes. Turn the pan to help encourage even browning.
Let the turkey rest for 20 minutes, then slice and serve warm. Leftover turkey can be stored in an airtight container in the fridge for 3 to 4 days, or you can freeze it for longer storage.
Once the turkey is removed, remove the trivet and strain the drippings in the pot through a fine-mesh strainer. You should have roughly 2 cups of liquid leftover. Return the strained liquid to the Instant Pot and press the "Sauté" button.
In a small bowl, combine the arrowroot and cold water, and whisk together to make a slurry. Pour the slurry into the Instant Pot, and whisk well, bringing it to a boil.
Simmer until the gravy has thickened, then season with salt and pepper to taste. Serve warm over the sliced turkey. Leftover gravy can be stored in the fridge for 3 to 4 days.
Nutrition information is for 1 full pound of turkey, which I assume includes the skin. This information is automatically calculated, and is just an estimate, not a guarantee.For a more flavorful gravy, you can add in a quartered onion, 1 celery stalk, and 2-3 garlic cloves when you cook the turkey. They will be strained out after cooking, but will add extra flavor.