Combine cranberries, cherries, water, cinnamon, and salt in the inner pot of a multi-functional pressure cooker (such as Instant Pot®). Close and lock the lid. Select high pressure according to manufacturer’s instructions; set timer for 2 minutes. Allow 10 to 15 minutes for pressure to build.

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Release pressure using the natural-release method according to manufacturer’s instructions, about 5 minutes. Switch to the quick-release method according to manufacturer’s instructions to release remaining pressure, about 5 minutes. Unlock and remove the lid.

Select Saute function and low heat. Add orange marmalade and brown sugar to the cranberry mixture. Cook and stir to combine, breaking up cranberries, 2 to 3 minutes. Turn off Instant Pot® and let cranberry sauce cool. Sauce will thicken upon cooling. Store in the refrigerator. For best flavor, bring to room temperature before serving.