Toast the Spices: Set the Instant Pot to "Sauté" on High. Add star anise, cloves, and cinnamon sticks and toast for 5 minutes, flipping halfway through. Remove spices, crush lightly, and place them in a spice bag or tea ball.
Sear the Onions: Add olive oil to the pot and heat for 3 minutes. Add onion rings, stirring occasionally, until they are browned and slightly charred. Remove and set aside.
Cook the Chicken: Add chicken pieces to the pot, followed by fish sauce and sesame oil. Stir constantly, scraping the bottom of the pot, and cook for about 2 minutes (some pink is okay).
Sauté the Aromatics: Stir in garlic and ginger and cook for 1 minute, continuing to scrape the bottom to deglaze.
Pressure Cook: Pour in chicken broth, beef broth, and hoisin sauce, deglazing the bottom once more. Add the spice bag and seasoned salt. Secure the lid, set the valve to "Sealing," and Pressure Cook on High for 7 minutes. Quick-release when done, discard the spice bag, and stir in the seasoned salt.
Cook the Noodles: Add rice noodles directly into the broth, stirring often for about 8 minutes, until the noodles soften.
Serve: Ladle the broth and noodles into bowls. Top with onions, bean sprouts, cilantro, jalapeño slices, and lime wedges. Customize with extra toppings as desired.