Turn on a multi-functional pressure cooker (such as Instant Pot®) and select Saute function. Add olive oil and turkey; cook until halfway browned and crumbly, 3 to 4 minutes. Add carrots, onion, bell pepper, Italian seasoning, garlic powder, seasoned salt, and black pepper.
Mix water with Worcestershire sauce and bouillon granules in a small bowl. Pour into meat mixture and mix well. Bring to a simmer. Add macaroni and paprika and stir. Add tomatoes and tomato sauce, making sure not to stir after this addition. Close and lock the lid. Set timer for 4 minutes. Allow about 10 minutes for pressure to build.
Release pressure carefully using the quick-release method according to manufacturer’s instructions to prevent sauce from mixing with the steam, about 5 minutes. Unlock and remove the lid. Mix well.
You can also use Italian-seasoned diced tomatoes or stewed tomatoes instead of regular diced.
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