Place the split peas in a strainer and rinse them with water. Place the strainer over a bowl and set aside for now, allowing the excess water strain out.
Press the saute button and allow the Instant Pot to heat up for 2 minutes. Add the onion, carrot, celery and potato and saute for 3 minutes, stirring frequently and adding a splash of water when the veggies start to stick to the bottom of the pot.
Add the split peas, garlic, smoked paprika, salt and black pepper and stir. Cook for about a minute and then add the water and stir one more time.
Turn the Instant Pot off and lock the lid into place, making sure the nozzle is in the sealing position. Use the manual setting and set the timer for 12 minutes. Use the natural release method when the timer goes off.
When the pressure is totally down, take the lid off, add the parsley and allow the soup to cool for about 15 minutes. Stirring the soup will help it cool faster. After it has cooled, blend the soup in batches with your blender (or all in one go with your blender stick) until the soup is creamy and smooth.
Note - This soup might seem thin at first - this is normal. It will thicken as it cools.