Season the chuck roast with the black pepper, salt, garlic powder, and celery salt.
Set the Instant Pot to Sauté. Heat the olive oil. Working in batches, sear the beef for 2–3 minutes per side until well browned. Transfer to a plate.
Add the onion to the pot and cook for 4–5 minutes, until softened, using the remaining oil. If needed, add a little more olive oil. Stir in the garlic and cook for 30 seconds. Add the tomato paste and cook for 1 minute, stirring constantly.
Pour in about ½ cup of the beef broth and scrape the bottom of the pot with a wooden spoon to release all the browned bits. Add the remaining beef broth, Worcestershire sauce, beef bouillon cubes, thyme, rosemary, bay leaves, browned beef, and carrots. Stir to combine.
Secure the lid, set the valve to Sealing, and cook on High Pressure for 35 minutes. Carefully perform a quick release once the cooking time is complete.
Add the potatoes, then secure the lid again. Cook on High Pressure for 3 minutes, followed by a quick release.
Remove the thyme sprigs, rosemary sprig, and bay leaves. Stir in the frozen peas.
For a thicker stew, set the Instant Pot to Sauté. In a small bowl, whisk together the cornstarch and cold water until smooth. Slowly stir the slurry into the stew and simmer for 2–3 minutes, stirring occasionally, until the broth thickens.
Taste and adjust the seasoning with additional salt and pepper as needed. Serve hot with crusty bread or biscuits.