Set Instant Pot to Saute setting. Once the bacon grease (or oil) has melted, add the chopped onions and saute until soft and translucent (about 4-5 minutes). Turn Instant Pot off at this point to keep your ingredients from burning. Stir in minced garlic into onions until aromatic (about 30 seconds)
Being careful not to burn yourself, place the chopped potatoes on top of the onion and garlic.
Remove the outer leaves from the red cabbage and cut into quarters. Remove the tough white core from the center of the cabbage and discard. Chop the cabbage leaves into 2 inch chunks and layer in the Instant Pot on top of the potatoes.
Season the cabbage with salt, pepper, and smoked paprika. Add bay leaf. Pour the chicken broth over the cabbage leaves. Layer the top of the leaves with the smoked sausage slices.
Close the Instant Pot and make sure the valve is set to the sealed position. Using the "Manual" setting, set the timer on high for 8 minutes. Make sure that the valve on top is set to the sealed position. After the cabbage has cooked, let the pressure release naturally for about 15-20 minutes. Stir the cabbage mixture and season to taste with additional salt and pepper. Sprinkle with a little red wine vinegar for a little acidity if desired.