Open the can of biscuits and flatten out each biscuit with your fingers. Alternatively you could use a rolling pin. Cut each biscuit in 4 strips, or feel free to cut them as large or as small as you like. Set aside.
Turn your Instant Pot to the saute setting. (See your manufacturer's guide for detailed instructions on how to use your instant pot.)
Add the olive oil and cook until oil is hot. Add the onion, carrots and celery and saute for 3 minutes until the onion softens and becomes translucent. Season with salt and pepper.
Whisk in the flour and cook for 1 minute. Add 1 cup of the chicken broth and whisk until the all the flour has absorbed all the liquid.
Stir in the thyme, chicken bouillon or poultry seasoning, and add the bay leaves. Add the remaining chicken broth, water and stir. If you prefer, you could use all chicken broth or all water. If using only water, you might need to add a bit more poultry seasoning.
Add the chicken to the pot then add the biscuit pieces, breaking them apart if needed. Mine stuck to each other a bit, so I had to separate them before adding them to the pot.
Close the lid (follow the manufacturer's guide for instructions on how to close the instant pot lid). Set the Instant Pot to the Soup setting and set the timer to 7 minutes.
Once the Instant Pot cycle is complete, wait until the natural release cycle is complete, should take about 10 minutes. Follow the manufacturer's guide for quick release, if in a rush. Carefully unlock and remove the lid from the instant pot.
Remove the chicken breasts from the pot and shred with two forks. Set the Instant Pot to the saute setting again. Add the shredded chicken back to the pot and add the peas. Stir everything together. Taste for seasoning and adjust as necessary. Cook for 2 more minutes until the peas are cooked.
Turn off the Instant Pot, by pressing the cancel button. Garnish with chopped parsley and serve warm.