Turn on a multi-functional pressure cooker (such as Instant Pot®) and select Saute function to heat up the pot. Add ground beef and onion. Stir to break up ground beef into crumbles and cook until beef is browned, about 5 minutes. Drain as much excess grease as possible. Stir in black beans, corn, diced tomatoes and chiles, tomato sauce, beef broth, and taco seasoning. Mix until well combined. Cancel Saute mode.
Close and lock the lid. Select high pressure according to manufacturer’s instructions; set timer for 3 minutes. Allow 10 to 15 minutes for pressure to build.
Release pressure carefully using the quick-release method according to manufacturer’s instructions, about 5 minutes. Unlock and remove the lid. Serve soup with avocado slices and Oaxaca cheese.
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