Add the oats, water, cinnamon, and apple to the Instant Pot and stir. Place the lid on the pot and ensure the valve is sealed.
Press the Manual button and set to high pressure. Set the timer for 6 minutes. The Instant Pot will begin cooking and once the pressure in the pot is achieved the timer will start.
After the time is up, manually release the steam and remove the lid. Stir and spoon into serving bowls. Drizzle with honey (if using). Serve hot and enjoy!