Lightly grease the Instant Pot insert and set the cooker to Sauté.
Add the ground beef and cook on Sauté until browned on the bottom; flip and break apart to crumble, and cook until no pink remains.
Drain any excess grease from the insert, then turn the Instant Pot off.
Stir in the garlic powder, salt, Italian seasoning, black pepper, crushed red pepper flakes, and tomato paste until combined with the beef.
Break the spaghetti in half and spread the pieces over the beef in an even layer.
Pour the water and the jar of spaghetti sauce over the spaghetti, pressing the noodles down so they are submerged.
Secure the lid and set the Instant Pot to Pressure Cook (High) for 6 minutes.
Perform a quick release of the pressure, then remove the lid.
Add the softened cream cheese and the Parmesan; stir until the cheeses are incorporated and the sauce is smooth.
Replace the lid off-center (or leave it off) and let the pot sit for a few minutes to allow the cream cheese to fully melt, then stir again and serve.