Season the chuck roast with salt, pepper, garlic powder, onion powder, thyme, and paprika.
Set the Instant Pot to 'Sauté' mode and heat the olive oil. Sear the roast on all sides until browned, then remove.
Add onions and garlic to the pot, sauté for 2-3 minutes.
Place the roast back in the pot, add carrots, potatoes, beef broth, and Worcestershire sauce.
Close the lid, set the valve to sealing, and cook on high pressure for 60 minutes.
Allow natural pressure release for 15-20 minutes, then quick release any remaining pressure.
Remove the roast and vegetables. For thicker gravy, mix cornstarch with water, set pot to 'Sauté', and stir until thickened.
Serve the pot roast sliced with vegetables and gravy.