Before preparing the crust, add 1/2 cup of Froot Loops and 1/2 cup of milk to a bowl. This should be done at least 30 minutes in advance to give the milk enough time to absorb the flavors from the cereal.
In a stand mixer or bowl if using a hand mixer, combine the cream cheese, sugar and sour cream. Mix on low speed until creamy.
Pour the Froot Loops cereal and milk through a strainer and add only the flavored milk to the cheesecake batter. Discard the cereal (or eat it). Add the vanilla extract and mix on low to combine.
Add one egg at a time while mixing.
Remove the crust from the freezer and pour the cheesecake filling into the crust.
Tap the pan against the counter to bring the air bubbles to the surface. Use a fork to pop as many air bubbles as you can. Cover the cheesecake with aluminum foil. You may cover the bottom of the pan as well if you have trouble with the pan leaking. Add water to the instant pot. Check notes below for quantities. Place the cheesecake on the sling or the trivet if you don’t have a sling. Lower the cheesecake into the instant pot and close the lid.
Cook on high pressure for 40 minutes with a 10 minute natural release.
Quick release any remaining pressure and open the lid to remove the cheesecake.
Uncover the cheesecake so any condensation on top can evaporate. Let the cheesecake come to room temperature for at least 45 minutes to an hour.
Run a small pairing knife around the cheesecake to gently release the sides from the springform pan. Do not remove it from the pan until you’re ready to serve.
Cover the cheesecake once again and cool in the refrigerator for 8 hours or overnight.
Finally, top with icing and Froot Loops cereal before serving and enjoy!