Cut mushrooms to bite-size pieces. Heat oil in your pressure cooker over medium-high heat. Add rice, shallots, and porcini powder, stir for 1 minute.
Add wine and cook until almost evaporated, stirring frequently, about 1 minute. Mix in 2 cups broth, salt, and mushrooms.
Lock lid in place, bring to HIGH pressure, and cook for 4 minutes. Release the pressure.
Leave uncovered over medium-high heat until rice is creamy and tender but still firm to bite, stirring often and adding more broth by 1/4 cupfuls if thinner consistency is desired, about 2 minutes.
Mix in cheese and parsley. Season risotto to taste with pepper.