Add the apples to your Instant Pot. Be sure the apple slices do not pass the line on your Instant Pot insert for the maximum cooking level.
Add the apple cider, lemon juice, sugar and cinnamon to the apples.
Put the lid on your Instant Pot, with the valve set to "sealing".
On the "manual" setting, set your Instant Pot to cook for 5 minutes. My Instant Pot took about 15 minutes to get to "high" pressure and then begin cooking for the 5 minutes.
Allow your Instant Pot to natural release the pressure.
Once the pressure is released, remove the lid. Either break down the apples with a spatula or wooden spoon, or for a smoother applesauce, blend the apples with an immersion blender.
Transfer the applesauce to an air tight container and refrigerate overnight before serving.