Heat Instant Pot to highest Saute setting. Add olive oil and heat until shimmering.
Add onions, carrots, and celery and cook until softened and golden, about 8 minutes.
Add Pancetta and saute 1 minute. Add ground chuck, ground pork, salt, and pepper and continue to saute until meat is brown and most of the juices have evaporated. If you have excess fat, carefully remove insert, drain and return to Instant Pot.
Add garlic and tomato paste and mix well, cooking about 2 minutes. Add red wine and simmer for about 3-4 minutes, or until the wine has evaporated.
Add water, crushed tomatoes (including their juices), and ¼ cup parsley. Mix well and bring to a low boil. Place lid on Instant Pot, seal and set to high pressure for 22 minutes.
Quick release the pressure - be careful as very hot steam will quickly escape. Once the float drops on the release, about 12-13 minutes, carefully remove the lid.
Change Instant Pot setting to the low saute setting and bring to a low bubble. Continue to cook about 10 minutes, stirring to make sure all is well combined, and cook to the consistency you desire. In a slow cooker begin on high for 2 hours and then on low for 4-5 hours.If cooking on the stovetop cook on medium for 30-minutes, then reduce to low and simmer for another 2½ hours. ½
Stir in remaining parsley and heavy cream. Check seasonings and add more salt and pepper if needed.
Prepare a wide noodle pasta, serve with Bolognese Sauce and sprinkle with freshly grated Parmesan.