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Mix Seasoning Mix, ketchup and brown sugar in bowl until blended.
Heat oil in Instant Pot on SAUTÉ function. Place chicken in pot. Cook 5 minutes or until lightly browned, turning once. Add water. Pour in sauce mixture. Close lid. Set Valve to Seal.
Set to cook 30 minutes on MEAT/STEW function or until chicken is cooked through. When done, quick release the pressure. Open the lid once pressure inside the pot is completely released. (Check manufacturer’s manual for safe operating directions.)
Remove chicken and transfer to large bowl. Shred chicken, using 2 forks. Return chicken to Instant Pot and mix with sauce to serve.