Spray bundt pan with nonstick cooking spray. In a small bowl, mix sugar and cinnamon together and set aside. Cut each biscuit into quarters and toss in cinnamon sugar. Place into prepared pan. Add half of the pecans into the pan. Repeat with the remaining biscuits and fill the pan. Drizzle butter over the biscuits. Place 1-1/2 cups of water into instant pot. Place the trivet into the pot. Take a long piece of foil and fold it in half. Place it under the bundt pan and use it to pick up the pan and place inside the instant pot. Place the lid on the instant pot and close the pressure release valve. Set the instant pot to manual, high pressure for 20 minutes. When cooking is complete, quick release the steam and remove the lid and pan. Let the pan set for 10 minutes before inverting onto a plate and removing the pan. Let cool just until warm and serve.