Combine chicken, lemon juice, salt, and pepper in a bowl. Stir and set aside.
Press saute button on instant pot and then press less.
Add butter to instant pot and melt.
Mix in bell peppers and onions and cook until just translucent.
Add garlic and cook an additional 30 seconds.
Remove pepper mixture and set aside.
Add olive oil and chicken to instant pot. Cook until chicken is browned, about 3 minutes.
Pour in the honey and stir, cooking an additional 5 seconds.
Remove the chicken mixture and set aside.
Add 1 1/2 cups of water to the Instant pot and deglaze the bottom of the pot. Make sure there isn't any food stuck to the bottom of the pot.
Add penne pasta, chipotle pepper sauce, chopped asparagus, and peas to instant pot. Do not stir.
Close the lid and set the pressure release valve to sealing.
Press the manual or pressure cook button and cook on high pressure for 5 minutes.
Quick release pressure.
Open the pot, and whisk in the heavy cream and parmesan cheese until fully combined and cheese is melted.
Press the saute button. Mix in pepper mixture and chicken.
Cook until heated through, about 3 minutes.
Top with cilantro and serve.