Rinse the rice. Place the rice in a fine-mesh strainer and rinse under cold water until the water runs mostly clear. This helps prevent sticking and ensures fluffier rice.
Season the chicken. Pat the chicken dry and toss with salt, pepper, paprika, and thyme. This builds flavor from the start.
Sauté aromatics. Set the Instant Pot to Sauté (Normal).
Add olive oil or butter, then cook onion and carrots for 3–4 minutes until softened. Stir in garlic for 30 seconds until fragrant.
Deglaze the pot. Pour in 1/4 cup of the broth and scrape up any browned bits with a wooden spoon. Don’t skip this—it prevents the burn warning.
Add rice and remaining broth. Stir in the rinsed rice, then pour in the rest of the broth. Give everything a gentle stir to distribute.
Layer the chicken on top. Place the seasoned chicken pieces on the rice in an even layer.
Do not stir. Add the bay leaf on top if using.
Pressure cook. Seal the lid and set the valve to Sealing. Cook on High Pressure for 8 minutes for chicken thighs or 7 minutes for chicken breasts.
Natural release. Let pressure release naturally for 10 minutes, then carefully quick-release any remaining pressure.
Add peas and finish. Open the lid, remove the bay leaf, and stir in the frozen peas.
The residual heat will warm them through in 2–3 minutes. Add lemon juice and taste for seasoning.
Rest and serve. Let the pot sit for 3–5 minutes to let the rice settle. Fluff gently with a fork, garnish with parsley, and serve warm.