Add all stock ingredients to your instant pot (or regular stock pot.)
If using IP- set it to high pressure and cook manually for 60 minutes. Let pressure release slowly and then open and strain out the solids.
If cooking on the stovetop, simmer on low for 5-6 hours, then strain out solids and set broth aside.
In a large skillet or saucepan over medium-high heat, brown the shallot or onion in some butter until soft and starting to become golden.
Add the rice and toast for 3-5 minutes, or until just slightly browned.
Add the wine if using, and stir- letting it evaporate fully.
Then begin with the broth. I like to use a 1-cup ladle and do one scoop at a time, stirring until fully absorbed. Keep repeating this process- add one scoop of broth, stir until absorbed, and repeat. You will know the risotto is done when the rice is fully cooked and has a nice, creamy texture.
Add salt and pepper to taste, the thyme leaves (I used 3 sprigs,) and the grated cheese.
You'll have extra broth, so just save it in jars in the fridge. It will be good up to 2 weeks if chilled.
Feel free to adapt this by adding sautéed mushrooms, garlic, or other veggies.