Add oats, water, and almond milk to your instant pot. Cover with the lid and turn the valve to sealing position.
Cook on high pressure for 4 minutes. Let it naturally release, at least for 15-20 minutes. Turn valve to venting position after it has naturally released to release any leftover steam. Open the lid and give it a stir.
Add cinnamon and vanilla. Stir until combined. It will get thicker as it sits and cool. Serve hot and top with desired toppings like fruit, nut butter, yogurt, granola, etc. If it is too thick, add a splash of almond milk. Enjoy!