Mix together the cream cheese, eggs, vanilla, heavy cream, and sugar.
Divide the cheesecake mixture into two equal portions.
Add the red velvet cake mix to one of the batter bowls. Add additional red food coloring for a brighter red. Mix well.
Mix together the graham crackers, sugar, and melted butter.
Line the bottom of a spring pan with parchment paper. Spray lightly with cooking spray. Add half of the graham cracker mixture to the bottom of your spring pan mold. Push down well to flatten the graham crackers with your fingers, or the back of a spoon.
Add the white cheesecake mixture to the top of your graham crackers filling the pan to the halfway point. Take 1/4 cup and add the red velvet cheesecake mixture to the middle of the cheesecake. Take 1/4 cup and add the white cheesecake mixture to the middle of the cheesecake. Continue to alternate until the pan is filled. (For the second cheesecake, add the red velvet cheesecake mixture first, then ¼ cup white cheesecake, etc.)
Taking a toothpick, chopstick, or knife, starting from the center, move outward toward the pan creating straight lines. Then, start from the center and create a clockwise circle creating swirls moving toward the outside of the pan.
Add 1 1/2 cups of water to the bottom of the Instant Pot.
Place the trivet on a flat surface. Place the cake pan on the trivet. Carefully, transfer the trivet to the inside of the Instant Pot.
Secure the Instant Pot lid and turn the valve to sealing.
Cook on High Pressure for 45 minutes. When the cook time ends, allow a natural release for 5 minutes before turning the valve to venting..
Carefully remove the trivet inside the Pot using the trivet handles with hot pads or a towel. Transfer and cool in the fridge for at least 5 hours, or overnight.
Remove from the fridge when ready to serve! Enjoy!