Cut the beef into smaller pieces (about 3/4-1" or so cubes) - they will cook faster and be more tender. Season them with salt & pepper. Prep the other ingredients.
Add the olive oil to your Instant Pot (IP) and press the sauté button. Brown the beef on all sides (about 5 minutes total). If you think the IP will be crowded, do this in two batches. Take the meat out and set it aside, and then spoon out most of the excess fat from your IP (leave about 1-2 tablespoons).
Add in the onion and celery and sauté for 4-5 minutes, then stir in the garlic. Ensure any brown bits are scraped up from the bottom of the IP.
Add the meat back into the IP, along with the carrots, potatoes, broth, water, Worcestershire sauce, and Italian seasoning.
Close the lid, ensure the valve is on "sealing", and then press the "manual" button and set it to cook on high pressure for 20 minutes. It'll take at least 10 minutes to get up to pressure.
Once the countdown has finished, let the pressure naturally release for 15 minutes, then turn the valve to release the remaining pressure.
Stir in the frozen peas and corn (I just mix the two together, but you can use one or both or neither). They will cook through really fast. Season the soup with extra salt & pepper as needed.