Turn on a multi-functional pressure cooker (such as Instant Pot(R)) and select Saute function. Add oil and let heat about 30 seconds. Add sausage and cook for 5 minutes. Transfer to a plate using a slotted spoon and set sausage aside.
Add onion, bell pepper, and celery to the Instant Pot and cook for 3 minutes. Add garlic, Creole seasoning, thyme, and oregano; cook 2 minutes more. Turn pot off.
Add beans, broth, hot sauce, and bay leaf to the Instant Pot with the vegetables. Close and lock the lid. Select high pressure and set the timer for 30 minutes. Allow 10 minutes for pressure to build.
Release pressure using the natural-release method according to manufacturer's instructions, 10 to 40 minutes. Unlock and remove the lid.
Remove bay leaf from the pot and discard. Add reserved cooked sausage. Select Saute function. Cook, stirring frequently to mash some of the beans and thicken the mixture, for about 10 minutes. Turn off pot and let stand for 10 minutes.
Serve beans over hot cooked rice garnished with parsley and green onions.
