Turn an Instant Pot® multi-cooker to the high saute setting. Add the oil; once it's shimmering, add the garlic and red pepper flakes and cook until fragrant, about 1 minute. Stir in the tomatoes, 2 cups water and 2 teaspoons salt.
Follow the manufacturer's guide for locking the lid and preparing to cook. Set to pressure cook on high for 5 minutes. After pressure-cook cycle is complete, follow the manufacturer's guide for quick release and wait until the quick-release cycle is complete. Being careful of any remaining steam, unlock and remove the lid, then crush the tomatoes with a wooden spoon. Stir in the penne.
Set to pressure cook once more for 5 minutes. After the cycle is complete, repeat the process for quick release. Remove the lid, then stir in the butter and Parmesan.
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