Season the beef cheeks generously with salt and freshly cracked black pepper.
Set the Instant Pot to Sauté. Cook the pancetta until golden but still tender. Remove and set aside.
Add the olive oil if needed and brown the beef cheeks well on all sides. Transfer to a plate.
Add the mushrooms and cook until golden. Remove and set aside.
Add the onion and carrot to the pot. Season with a pinch of salt and cook for approximately 5 minutes.
Add the garlic and tomato paste and cook for 1 minute.
Pour in the red wine and scrape the bottom of the pot thoroughly. Simmer for 3–4 minutes.
Add the beef stock, Worcestershire sauce, balsamic vinegar, brown sugar, bay leaves and thyme.
Return the beef cheeks and half the pancetta to the pot.
Cook on High Pressure for 65 minutes, followed by a 20-minute natural pressure release.
Meanwhile, boil the potatoes and whole garlic cloves in salted water until tender. Drain thoroughly.
Mash the potatoes and garlic with the butter, warm milk, cream and parmesan. Season properly with salt and cracked black pepper.
Remove the beef cheeks and discard the bay leaves and thyme stems.
Return the mushrooms to the sauce and select Sauté. Simmer for 10–15 minutes until slightly thickened.
Turn off the heat and stir in the cold butter until the sauce becomes glossy.
Serve the beef cheeks over the mash. Spoon over the mushroom and red wine sauce, then finish with the remaining pancetta and fresh parsley.
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