Foryoueats: Instant Pot Shrimp Risotto

4 tablespoons unsalted butter, divided

1 tablespoon olive oil

1 shallot, diced

3 cloves garlic, minced

2 cups Arborio rice

⅓ cup dry white wine

4 cups low-sodium chicken broth

1 (8 ounce) bottle clam juice

1 teaspoon fresh thyme leaves

¼ teaspoon red pepper flakes

1 pound large shrimp, peeled and deveined

1 pinch paprika

salt and ground black pepper to taste

½ cup frozen peas, thawed

½ cup grated Parmesan cheese

Instant Pot Shrimp Risotto