SLICE ONIONS: Set Instant Pot to SAUTE function on HIGH or MORE. Peel and slice onions by hand (1/2 inch/1.3cm is fine - no need to slice thinly). Alternatively, use a shortcut and slice onions in food processor with a slicing blade (adjusted to thick slice if possible).
SAUTE ONIONS: Add butter, onions and baking soda to the bottom of the pot which will now be hot. Saute to "sweat" the onions and release juices for 5 minutes, stirring occasionally. In the last minute, add minced garlic. Select OFF.
PRESSURE COOK ONIONS: Select PRESSURE OR MANUAL - HIGH. Place lid on instant pot and turn vent knob to "sealed". Select 14 minutes (it will take about 5 minutes to come to pressure before the time starts to count down). When cooking is complete and IP beeps, use Quick Release method. You will have a lot of liquid with the onions.
CARAMELIZE ONIONS: To speed up final caramelization, pour most of liquid (about a cup) onto a cup and set aside to add later. Select SAUTE function on High/More. Caramelize onions, stirring occasionally, for 10 minutes or until golden brown and most of liquid is evaporated. Add wine and cook off for 1 minute. If more body in soup is desired, stir in a tablespoon of flour for 1-2 minutes. I do this.
ADD LIQUIDS AND SEASONINGS: Add broth(s), reserved onion liquid and all seasonings (Worcestershire sauce, salt, pepper, thyme, bay leaf). Cook onion soup for 10 minutes. Taste and adjust seasonings.
MAKE CHEESE-TOAST TOPPING and BROIL: While soup is cooking, toast baguette slices or cubes until golden brown. You can toast slices then cut in cubes if preferred. Set oven or toaster oven to Broil. Ladle soup into oven-safe bowls. Add slice of bread or bread cubes to cover top of the soup. Top with grated cheese. Place bowls on a pan (in case of dripping). Broil 6 inches from heat for about 3-4 minutes or until cheese is browned. Serve immediately. To bake instead, see Note 5.