Start with flattening out each biscuit with your fingers. You can also use a rolling pin. Each biscuit should be cut in 4 strips or even pieces of any shape you like. Set them aside.
Place the olive oil, chicken, onion, thyme, garlic, salt, and pepper into the instant pot and mix to coat. Turn your Instant Pot to the sauté setting, and allow the chicken to cook until brown on all sides while frequently stirring. Your onions will start becoming soft as well.
Add carrots, celery, peas, and bay leaf into the pot, and mix well. Add the chicken broth and sauté for 3 minutes. You will need to scrub all the flavorful brown bits off the bottom of the pot with a wooden spoon.
Stir in dumplings and allow cooking for 5 minutes on Manual. Then add whipped cream and Set instant pot to manual for 2 minutes.
Once the time is up, allow the natural release cycle to finish. It should take around 10 minutes.
Taste for seasoning and adjust as necessary. Then turn off the Instant Pot, by pressing the cancel button. Garnish with chopped parsley or hot chili powder and serve warm.