Spray a 7x3-inch springform pan with baking spray. Set aside.
In a large mixing bowl, combine softened butter, mashed bananas, peanut butter, brown sugar, and granulated sugar. Beat until combined.
Add in eggs, one at a time, and beat well after each addition. Beat in vanilla extract and sour cream. Make sure to scrape the bottom and sides of the bowl.
Add flour, baking powder, baking soda, salt, and mix JUST until combined, make sure to NOT over mix.
Fold in the chocolate chips.
Spoon the batter into the prepared pan, level the top with a spatula. Cover completely with foil.
Add 1 ½ cups water to the bottom of the Instant Pot.
Place the pan on a trivet with handles or if your trivet doesn't have handles, make a sling using foil and lower the pan into the pot onto the trivet.
Lock the lid and make sure the valve is set to SEALING.
Select HIGH PRESSURE for 55 minutes. After cook time ends, allow pressure to naturally release for 15 minutes.
Do a quick release for the remaining pressure.
Open the lid and remove the pan.
Allow bread to cool in the pan for 10-15 minutes IN the pan. After that remove it from the pan and place it on a cooling rack.
Serve as is or wait for the bread to cool and make a simple glaze with powdered sugar, milk, and vanilla extract to pour on top.