Add 1 cup of water to the Instant Pot and place a trivet with handle or steamer basket in the pot.
In a large bowl, combine chicken wings, garlic powder, onion powder, salt, and pepper. Toss until meat is fully coated.
Arrange seasoned chicken on the trivet or in the steamer basket.
Close the lid and set the valve to SEALING position seal the lid, set to Pressure Cook on High for 5 minutes.
In a saucepan over medium-low heat, combine butter and minced garlic. Cook, stirring occasionally, until butter is melted and infused with flavor.
When cooking is done, do a QUICK RELEASE. Using tongs, carefully remove the chicken wings from the Instant Pot and in a bowl, toss with the garlic butter mixture until coated.
Arrange in a single layer on a lightly-greased baking sheet and broil on High in the oven for about 3-5 minutes or until the skin begins to brown.
Remove from oven and top with shredded Parmesan cheese and fresh parsley. Set hot with dipping sauce.