Press saute on the Instant Pot and add chopped bacon once HOT.
Cook bacon until brown and crispy then remove with a slotted spoon into a glass bowl.
Add the diced onion and cook several minutes until translucent.
Scoot the onion to the side of the pot and add the garlic to the center and cook for one more minute.
Add the broth and deglaze the pot. Make sure to scrape any bacon bits from the bottom.
Pour in the black-eyed peas, add the black pepper and ham hock and stir together.
Top with the bay leaves and close the lid.
Cook on high pressure for 40 minutes and allow to naturally release for 15 minutes.
Release any remaining pressure.
Carefully remove the ham hock to a cutting board and pull the ham from the bone.
Discard any fat or skin, chop the ham and return to the pot and stir together.
Serve topped with crispy bacon and a side of greens and cornbread.