Add your uncooked noodles and water to your pressure cooker. Close lid and steam valve and set to high pressure for 2 minutes. Then turn your pot off.
Do a quick release, drain water and put cooked noodles back into your pot.
Set your Instant Pot to saute low and add your butter until it melts.
Then add your evaporated milk and cheese, stir until cheese is melted.
Add your bacon and sausage (and any other precooked meats), stir in gently and serve immediately for best taste! Add more evaporated milk as you like to thin it out.
** Note - if you only want to dirty one pot then after you drain your noodles keep noodles out of your pot and put your pot back into your pressure cooker. Set to saute normal and cook your diced bacon and crumbled ground sausage in your pot, then drain grease (or keep in), add butter until it melts, and then continue with next steps. Add cooked noodles, evaporated milk, cheese, stir and then you're done.