Set the Instant Pot to saute and heat the oil until shimmering. Add the beef, 2 pieces at a time, and brown on each side. Remove the beef from the pot and set aside.
Add the beef broth to the Instant Pot and scrape up any browned bits on the bottom of the pot. Be sure to remove the browned bits or you may get a burn notice on your Instant Pot.
Add the beef back to the Instant Pot along with the jar of pepperoncini (juice and peppers), au jus mix, and ranch seasoning. Stir to combine.
Place the lid on the Instant Pot and set the valve to sealing.
Cook on high pressure for 60 minutes. Let pressure release naturally for 15 minutes before doing a quick release of any remaining pressure.
Remove the roast to a serving platter, shred or slice, and drizzle with the juices from the pot.
Serve hot.
Notes
Chuck Roast: If you have a larger roast, adjust the cook time. A 4 pound roast will need 70 minutes. Sodium: Be sure to use ranch seasoning and not ranch dip mix as the dip has a lot more sodium and will make for a much saltier dish. You can also use low sodium broth and unsalted butter to cut back even more.Peppers: The peppers do not make this spicy. You may serve them with the roast or discard them after cooking. You could also use mild banana peppers for an even more tame version.Juices/Gravy: We drizzle the juice from the pot over the roast, but if you'd like to thicken it up into a gravy it's easy! Just remove the beef from the pot, set to saute, and add in a cornstarch slurry (1 tbsp cornstarch + 1 tbsp cold water whisked together). Whisk until smooth and thickened.