Combine the rice, milk, cream and water in the bowl of your Instant Pot pressure cooker. Add the brown sugar and spices.
Close the lid ensuring the vent is in sealing position.
Set the Instant Pot to high pressure and cook the rice pudding for 8 minutes.
Once the cooking time has passed, quick-release the pressure.
Stir the pudding until creamy then serve with the butterscotch sauce.
Pecan Butterscotch Sauce
Toast the pecans in a pan set over medium-high heat for a few minutes, taking care not to burn them. Remove from the pan and set aside.
In the same pan, melt the butter and sugar together then add the cream and golden syrup/honey. Cook for 5 minutes over medium heat until the sauce is thick and golden brown. Add the pecans and a pinch of salt and stir to combine.