Press the Saute button on your Instant Pot, and add the ground Sirloin. Cook until no pink is visible, and Sirloin is golden brown. Drain the Fat from the Sirloin, by blotting with paper towels. Add chopped onion, minced garlic, Italian seasoning, ground Oregano, brown sugar, Tomato paste, Ketchup, water, diced tomatoes, Beef Broth, and Tortellini. Stir well to combine ingredients.
Place the lid on the Instant Pot, until it beeps and locks. Make sure the Pressure Valve is set to SEALING. Press the MANUAL button, and set the time for 12 minutes. Let the soup cook, and when it's finished, allow the Instant Pot to release the pressure naturally.
When the pressure has been released, turn the pressure valve to VENTING, from sealing, and make sure all the pressure has been released. Make sure the FLOAT VALVE is down, and remove the lid. Stir the soup, and add the shredded Colby Jack cheese, and the Parmesan Cheese.
When ready to serve; serve in soup bowls, topped with crumbled bacon, sliced green onion, cheddar cheese, and crusty bread. Enjoy!