Set Instant Pot to saute mode. Add the oil and butter and heat for 2 minutes. Add the garlic and parsley and cook for 3 minutes, stirring. Add the white wine, salt, pepper and red pepper flakes. Let cook for 3 minutes and add shrimp to the pot.
Cook until the shrimp is bright pink in color, approximately 5 minutes. Remove shrimp from the pot (leave juices).
Add the chicken broth/stock and lemon juice and deglaze pot (scrape pieces from the bottom with a spoon). Break the pasta in half and add it to the pot, separating them as much as possible with fork tongs and making sure they are completely covered with liquid. Do not stir the mixture after this point!
Place the cover on the pot and set the timer to 5 minutes on high pressure (use the pressure cook setting). It will take the IP around 6 minutes to build up pressure before it begins cooking.
When cooking is done, do an immediate quick release. Remove the cover and add the shrimp back to the pot. Mix well and let sit in the pot for 5 minutes before serving.
Top with parsley and red pepper flakes and serve with lemon wedges.