First, put the Instant Pot on the "Saute" function. Put the butter in and then melt it.
Add in the onions and cook them until they are soft. You can then add in the garlic, and cook for about 1 minute.
From there, add in the salt, black pepper, tumeric, paprika, saffron threads, and red pepper flakes. You want to cook this for about 1 minute.
Add in the red peppers, and rice next. Sir this and cook for around 1 minute max. Add in the white wine and chicken broth next.
You can now add the shrimp in on the top and then turn off the Instant Pot.
Put the lid on the Instant Pot and seal the valve.
Put the Instant Pot on "Manual" and set the timer for 5 minutes.
Quick release the pressure and then remove the shrimp so you can peel it, if you want. Add the cilantro on top.