Rinse, then sprinkle chicken with salt, pepper and paprika.
Set Instant Pot to sauté, melting butter in heating olive oil.
Slightly brown the chicken, add garlic, bay leave (both optional) and chicken bouillon, stir a little.
Top with sliced mushrooms and carrots.
Mix water/wine with flour until well combined and pour over chicken.
Sprinkle with more paprika.
Switch from Sautee to Pressure cooker, set timer to 15-18 minutes, cover and cook.
Do the quick or natural release (depending on how hungry you are).
Open the pot and switch back to sauté to incorporate the cream. Your gravy may be thicker if you mix the flour with cream to add at the end, but I am giving you my version so feel free to experiment.