Mix together the garlic powder, salt, pepper, parsley, and onion powder.
Pat dry the beef roast and rub on the spice mixture.
Press the saute button and add the oilive oil.
Once the instant pot says "HOT" add the beef roast and sear on all sides.
Remove the roast and set aside.
Pour in the beef broth and deglaze the bottom of the pot. Use a wooden spoon to scrape up any bits of food stuck to the bottom of the pot.
Press the cancel button.
Place the roast back inside the instant pot.
Close the lid and set the pressure release valve to sealing.
Press the manual or pressure cook button and set to 45 minutes.
Natural pressure release.
Remove the meat from the pot and shred with two forks.
Whisk together the cold water and cornstarch.
Pour the cornstarch slurry into the insant pot.
Press the saute button and bring the broth to a boil.
Let boil 5 minutes, unti thickened, to make a gravy.
Serve roast beef with gravy.