Season both sides of the roast with 1 tsp salt, the pepper, and steak seasoning. Set aside.
Set Instant Pot to Sauté mode. When the display reads "Hot" add the vegetable oil.
Place the roast into the pot and let it brown for 8 minutes. Then flip it and brown on the other side for 8 minutes. Try to brown the edges, too (It is important to let it brown for the full 8 minutes without moving it before flipping it over). This step not only improves the flavor, but reduces the pressure cooking time.
While the roast is browning, prepare your vegetables and the sauce.
Mix the broth, V8 juice, Worcestershire, and liquid smoke together. Then stir in the garlic powder and the remaining 1/2 tsp of salt. Set aside.
Remove roast and set on a plate.
Add the onion and cook for a couple of minutes, stirring frequently.
Pour in the broth mixture. Stir, scraping up the brown bits from the bottom of the pot.
Add the bay leaf and thyme. Let contents come to a simmer.
Put the roast back in the pot.
Add the celery, carrots, and potatoes** (See note if you want firmer vegetables).
Close the lid and set the steam release knob to the Sealing position.
Press the Cancel/Keep Warm button to cancel the Sauté mode.
Press Manual (or Pressure Cook) and use the +/ - buttons to set the time to 60 minutes - for a 2 to 3 lb roast. High Pressure. (if your roast is more than 2" thick, add 15 minutes).It can take the pot several minutes to get to pressure. That's normal. When the cook cycle ends, let the pot naturally release the pressure for 15- 20 minutes. Then manually release any remaining steam.
When the pin in the lid drops, open the lid facing it away from your face. Turn off the Instant Pot.
Remove the roast and vegetables to a platter to rest while you make the gravy. It is fine to leave the onions in the liquid.
If your roast is not as tender as you'd like, put it back in for 15 minutes. Keep the veggies in a covered dish.