Stir in the orzo pasta, allowing it to toast slightly for about 1 minute while stirring constantly.
Pour in the broth, garlic powder, onion powder, Italian seasoning, salt, and pepper. Stir well to combine all the ingredients.
Close the lid of the Instant Pot and set the valve to sealing. Cook on high pressure for 5 minutes. After the cooking time is complete, allow for a natural pressure release for about 5 minutes before carefully switching the valve to venting.
Open the lid and give the orzo a good stir. Add the heavy cream and grated Parmesan cheese, mixing until the cheese is melted and everything is well-combined. Adjust seasoning if necessary.
Scoop the creamy orzo into bowls, garnish with fresh chopped parsley, and serve hot.