Set Instant Pot to saute mode and add the ground beef and 1/2 teaspoon of the salt. Cook for about 5 minutes, breaking into small pieces until browned.

Press cancel and carefully drain excess fat from the pot, return the meat back to the pot.

Sprinkle chili powder, cumin, and remaining salt over the meat, stirring briefly to distribute.

Add elbow macaroni on top of the seasoned meat without stirring.

Pour water over the macaroni, ensuring all pasta is submerged.

Add tomato sauce and diced tomatoes on top without stirring.

Secure the Instant Pot lid, set vent to sealing, and pressure cook on high for 4 minutes.

Perform quick release of the pressure when the timer is complete.

Remove the lid and stir the contents well, adjusting consistency as needed.

Add shredded colby jack cheese and stir until melted.

For a browned topping, transfer to a baking dish, sprinkle additional cheese, and broil for 2–3 minutes.

Serve hot with additional toppings as desired.