Season beef generously all over with salt and black pepper.
Heat olive oil in your MultiPot and set to Sauté. Cook beef in hot oil until browned on all sides, 5 to 7 minutes per side. Transfer to a plate.
Sauté onion and garlic in the remaining hot fat until soft and fragrant, about 3 minutes. Pour beef broth and red wine into the pot to deglaze, using the flat edge of a wooden spoon to scrape any browned bits of food and the bottom of the pan.
Return beef to the pot; add thyme and rosemary.
Lock MultiPot lid in place, turn steam vent handle to Sealing, and select Meat/Stew. Cooking on High Pressure 45 minutes. let pressure release naturally, Remove lid.
Add potatoes, carrots, and bay leaf to the pot.
Lock MultiPot lid in place, turn steam vent handle to Sealing, and cook on High Pressure for an addition 4 minutes. Turn steam vent handle to Venting to quick-release pressure. Remove lid.
Discard thyme and rosemary sprigs. Transfer beef to a large serving platter. Arrange the vegetables around the pot roast to serve.