Close the lid of the pressure cooker and set the steam vent to the Sealing position.
Press the Manual (or Pressure Cook) button and then the + or - button to choose 48 minutes.*** Make sure it is set to High Pressure.
When cook cycle ends, let the cooker naturally release pressure for 20 minutes. Then manually release any remaining pressure.
When the pin drops and it is safe to open the lid, do so carefully, facing away from you.
Gather up the two ends of the sling and VERY carefully lift the cheesecake pan out of the cooker and onto a cooling rack.
Leave covered for about 10 minutes, it will continue to cook, then carefully peel off the foil/paper towel.
The cheesecake is done if the center couple of inches jiggles just a little bit when shook. You don't want it too jiggly, but you do want some. It will firm up as it cools. If it is too jiggly, cover it back up and put back in to cook for 10 more minutes, with a 15 minute natural release (times will vary with many factors such as altitude and the size of pan, and the model of pressure cooker).
Let cool for about an hour, then put the pan in the fridge to chill for at least 4 hours before serving. I prefer to make my cheesecake in the evening and let it cool overnight.
Remove from pan and serve as is, or with whipped cream. You can also garnish with a chocolate ganache drizzle or a butterscotch ganache drizzle