In a bowl sift the flour, baking powder, salt, and add in the sugar. And set aside.
In a second mixing bowl, whisk together the milk and egg, then whisk in the melted butter and vanilla extract.
Pour the milk mixture into the dry mixture, and lightly whisk until just combined. A few lumps are ok. Allow the batter to sit for a few minutes.
Spray the molds and pour the batter into the egg silicone mold filling ¾ of each of the molds as the pancake bites will rise a little. Cover, and place on a trivet.
Add 1 cup of water to the Instant Pot stainless steel insert. Then lower the trivet into the pot (you can stack 2 or 3 on top of each other). Secure the lid and set the vent to SEALING. Select the PRESSURE COOK/MANUAL setting and set the cooking time for 7 minutes at high pressure.
The Instant Pot will take around 6-7 minutes to come to pressure and start cooking. When the cooking program ends, allow the steam to be naturally released for 5 minutes, then release the rest of the steam manually. Carefully remove the lid. And take out the molds.
Allow them to cool down a little before you take the pancake bites out. Squeeze the sides a little, then push each from the bottom slowly onto a plate so you don't break them.