Add the uncooked pasta, chicken broth, water, butter, hot sauce (opt), garlic powder, salt, and pepper to a 6-quart or 8-quart Instant Pot.
1 pound uncooked elbow macaroni, 2 cups chicken broth, 2 cups water, 2 Tablespoons salted butter, 1 teaspoon hot sauce, 1/2 teaspoon garlic powder, 1/2 teaspoon table salt, 1/4 teaspoon pepper
Carefully do a quick release, then add the milk and 3-4 handfuls of the cheese. Stir well until the cheese has melted, then add another 3-4 handfuls of cheese and stir again. Repeat until all the cheese has been added and melted to create a creamy sauce. If needed, you can add another 1/2 cup of milk.
1/2 cup whole milk, 2 cups freshly shredded sharp cheddar cheese, 1 cup freshly shredded mozzarella cheese or Italian blend, 1/2 cup freshly shredded Parmesan cheese