Set the Instant Pot to Saute (medium), and add the chopped bacon to the pot. Cook it on the Saute setting until brown, stirring constantly. Once the bacon is cooked, remove it from the pot, but leave the grease in the pot. Set the bacon aside.
Add the shallots to the pot and cook on Saute for a minute, until softened. Transfer the cooked shallot and bacon grease into a medium bowl. Scrape with a silicone spatula to remove as much as possible from the pot. Add the vinegar, olive oil, maple syrup, Dijon mustard, salt, and pepper to the bowl with the shallot. Stir to combine.
To cook the potatoes, pour a cup of water into the Instant Pot and add a steamer basket to the pot. Place the chopped potatoes in the steamer basket. Seal the pot and set it to 4 minutes on manual high pressure. Once it’s done cooking, do a quick release and carefully remove the steamer basket full of potatoes from the pot using a pot holder.
Place the potatoes in a large bowl. Pour the shallot/vinegar sauce over the warm potatoes. Stir to coat evenly, then add the cooked bacon and stir.
Serve warm, or refrigerate until ready to serve.