Pour cold tap water into the Instant Pot inner pot (use 1 cup for 3–6 quart models or 1 1/2 cups for an 8-quart model). Place the steam rack or steamer basket into the pot.
If needed, separate whole wings into drumettes and flats and discard the tips. Place the wings in a large bowl and toss with 1/2 tablespoon seasoned salt to coat evenly.
Arrange the seasoned wings on the rack or in the basket; some overlap is fine. Close the lid and set the valve to sealing.
Set the Instant Pot to cook on high pressure. For fresh or fully defrosted wings cook 10 minutes; for frozen wings cook 15 minutes.
When the cook time ends, allow the pressure to release naturally for at least 10 minutes, then carefully open the lid and remove the wings to a clean bowl.
Make the buffalo sauce by whisking together 1 cup hot sauce, 1 tablespoon honey, 1 teaspoon garlic powder, and 2 tablespoons melted unsalted butter in a small bowl.
Pour 1/2 cup of the sauce over the cooked wings and gently toss to coat.
Line a baking sheet or broiler pan with foil, arrange the wings in a single layer, and broil on high for 2–3 minutes per side until the skin is golden and crispy.
Brush the wings with additional sauce if desired and serve immediately.