Select saute button on Instant Pot. Add garlic and saute for a minute or so.
Add onion and saute for another minute.
Add bell peppers and again saute for another minute.
Add chicken breast and saute until mostly cooked through.
Add all spices and mix thoroughly.
Add beer and water (leave water out if you like thicker chili).
Add tomatoes, black beans and hot sauce.
Put lid on and set steam release handle to Sealing. Select the cancel button, then select the pressure cook button. Increase the time to 30 minutes.
When timer goes off, release the pressure by carefully moving the steam release handle to Venting. When the metal float valve next to the steam release handle drops down indicating the pressure has been released, it's ok to open the lid.
Add the cheddar cheese spread and Italian parsley.
Serve with your favorite toppings.