Turn the Instant Pot on to saute mode and add the butter.
Once the butter is melted, add in the onion and cook stirring occasionally for 2-3 minutes until beginning to soften.
Season the chicken with the garlic powder, salt, onion powder, oregano, and pepper.
Add the chicken to the pot with the onion and cook, stirring occasionally just until the chicken is golden, about 3-4 minutes.
Pour about 1/4 cup of the chicken broth into the pot and use a wooden spoon to deglaze any browned bits from the bottom of the pot.
Turn the pot off and stir in the rice, and the remaining broth. Place the lid on the pot and set the valve to sealing.
Place the instant pot on manual, high pressure for 5 minutes cook time.
Once the cook time is up, allow the pot to come to pressure naturally for 5 minutes.
Do a quick release and stir in the broccoli. Allow to sit for 5 minutes.
Turn the pot off and stir in the parmesan cheese.
Serve immediately. Leftovers can be stored in an airtight container in the refrigerator for up to 3 days.