Heat the olive oil in your pressure cooker and brown the ground beef for about 4-6 minutes, stirring occasionally. Remove to a plate.
Add bacon to the pressure cooking pot and cook until crisp. Then add onions, carrots, and garlic, sauté until tender, about 3-4 minutes.
Add rice and cook, stirring frequently, until rice becomes opaque, about 3-4 minutes.
Add the marsala and cook 2 minutes. Pour in 4 cups beef broth, tomatoes, tomato paste, milk, bay leaves, and cooked ground beef. Cover and lock lid in place. Select High Pressure and set 6 minutes timer. After 6 minutes, turn off the pressure cooker and use a quick pressure release.
Select Simmer and stir in remaining 1 cup of beef broth. Cook uncovered, stirring occasionally for 2-3 minutes until most of the broth is absorbed and the rice is creamy.
Stir in grated Parmesan and chopped parsley. Season with salt and pepper to taste.
Serve hot with extra Parmesan on top.