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Mix 2 tablespoons of the oil, water and Seasoning Mix in a small bowl. Brush mixture on all sides of chicken.
Heat remaining oil in Instant Pot on SAUTÉ setting. Place chicken, breast-side down, in pot. Cook 3 to 5 minutes or until browned. Turn chicken and cook 3 minutes longer, until browned on both sides. Carefully remove chicken from pot.
Add stock to pot, stirring to remove brown bits from bottom. Insert metal cooking rack. Place chicken breast side up on rack. Close lid. Set Valve to Seal.
Select PRESSURE COOK (MANUAL); cook 25 minutes on HIGH PRESSURE. When done, allow pressure to release naturally. Open lid once pressure inside the pot is completely released. (Check manufacturer’s manual for safe operating instructions.) (Internal temperature of chicken should be at least 165°F. If chicken is not cooked through, Seal Pressure Valve, and cook 3 to 5 minutes longer on HIGH PRESSURE or until chicken is cooked through.) Remove chicken from pot. Leave drippings in pot. Allow chicken to rest 5 to 10 minutes before carving.
Meanwhile, mix corn starch and water in a small bowl until well blended. Stir mixture into drippings. Cook on SAUTÉ function until gravy comes to a boil, stirring frequently. Set to WARM function; simmer 5 minutes or until thickened, stirring occasionally. (Gravy will thicken upon standing). Serve gravy with chicken.