In a small bowl, combine the paprika, Italian seasoning, salt, pepper, and sage; set aside. Add 1 cup of water to the base of the Instant Pot and set the trivet into the base. Drizzle the olive oil over the turkey breast and rub it in. Then sprinkle the herbs you combined over the turkey breast and rub that in as well.

Set the turkey breast onto the trivet inside the Instant Pot and lock in the lid, turning the valve to "sealing". The set the Instant Pot to the Manual high-pressure setting and set the timer to 25 minutes for a 4 lb turkey (or 30 minutes for a 5 lb turkey breast).

Once the cooking cycle is complete, allow the pressure to release naturally for 10 minutes and then quickly release any remaining pressure. Transfer the turkey breast to a carving board, cover with foil, and let rest 10 to 15 minutes.

For the Gravy: Leave the accumulated cooking juices inside the base of the Instant Pot. Select the saute setting and add 2 tablespoons of butter. Let the broth cook until the butter is melted. Into the butter and cooking juices, whisk in the flour and cook for a couple of minutes. Then whisk in the broth and milk (or cream); cook for an additional 3 minutes, or until the gravy has reduced and thickened to your favorite consistency. Taste and season with salt and pepper as needed.