01 - Peel, core, and slice the apples into uniform 1/2-inch wedges for even cooking.
02 - Place the apple slices in the Instant Pot insert. Sprinkle brown sugar, cinnamon, nutmeg if using, and salt evenly over the top. Drizzle with maple syrup or honey if desired, then add the water or apple juice.
03 - Distribute the butter pieces evenly across the apple mixture.
04 - Close the Instant Pot lid and ensure the steam release valve is set to sealing. Cook on high pressure for 2 minutes.
05 - When the cooking cycle completes, allow natural pressure release for 3 minutes, then carefully quick-release any remaining pressure.
06 - Open the lid and stir in the vanilla extract. For a thicker syrup consistency, select Sauté mode and simmer for 2-3 minutes, stirring gently until reduced.
07 - Serve warm as a standalone dessert, or use as a topping for oatmeal, pancakes, waffles, or vanilla ice cream.