Place the salt, pepper, paprika, Italian seasoning and garlic powder in a small bowl. Stir to combine.
Rub the seasoning all over both sides of the chicken.
Turn the Instant Pot to saute mode. Add the olive oil to the pot.
Place the chicken in the bottom of the pot in a single layer. You may need to do this step in batches.
Cook the chicken for 4 minutes per side or until golden brown. Arrange all the thighs skin side up in the pot.
Pour the chicken broth into the pot.
Seal the pot and set it to manual high pressure for 10 minutes.
After the cook time has elapsed, let the pressure release naturally.
Remove the thighs from the pot and cover to keep warm.
Turn the pot back to saute mode and bring the liquid in the pot to a simmer.
Whisk the corn starch with 2 tablespoons of cold water.
Stir the corn starch mixture into the liquid in the pot. Cook for 1-2 minutes or until gravy has just thickened. Add the butter and stir until melted.
Spoon the gravy over the chicken. Sprinkle with parsley and serve.