Press the Saute button on the Instant Pot and add butter and olive oil, add the onion and Saute until golden brown.
Add the ground sirloin, and cook until the meat is completely done, there's no pink left, and the meat is well browned.
Add the minced garlic, and mix well, and cook for 1 minute.
Turn off the Saute setting, and add the diced tomatoes, stewed tomatoes, tomato paste, Rice, green bell pepper, red bell pepper, orange bell pepper, yellow bell pepper, Italian seasoning, sweet basil, oregano, garlic salt, seasoned salt, seasoned pepper, and brown sugar.
Stir well, blending all ingredients, and scraping the bottom of the pot for any bits that might be stuck.
Add the Chicken Broth, and water, and stir again, scraping the bottom, to loosen any bits of onion, or sirloin, to prevent burning.
Place the lid on the Instant Pot until it beeps and locks. Make sure the pressure valve is set to 'SEALING', and press the Manual button and set the time to 10 minutes.
When the soup is cooked, it will beep and go to 'OFF'. Do a quick release, by gently turning the pressure valve from 'SEALING' to 'VENTING', and release the pressure.
When all pressure has been released, and the FLOAT VALVE is down, open the lid to the Instant Pot, and stir the soup.
Serve in bowls with your favorite crusty bread or crackers.