In a bowl, add cream cheese, ricotta, sugar and eggs and beat until smooth.
Fold in sour cream and vanilla extract.
In another bowl, mix together crushed Oreo cookies and butter.
Place the cookie mixture in the bottom of a 7-inch spring form pan evenly and gently press down to smooth the surface.
Top with the cheese mixture evenly.
Arrange the trivet in the bottom of Instant Pot and pour 1 cup of water.
Arrange spring form pan on top of the trivet.
Secure the lid and turn to “Seal” position.
Cook on “Manual” with “High Pressure” for about 40 minutes.
Press “Cancel” and do a quick release.
Remove the lid and transfer the ramekins onto wire racks to cool.
Refrigerate to chill for at least 12 hours before serving.
Sprinkle with powdered sugar and top with cherries before serving.