Prepare cake batter. Cream butter and sugar. Whisk in egg and molasses. Next, stir in maple extract and sweetened condensed milk. Whisk well to combine
Add flour, baking soda, ginger, and cinnamon to the bowl and whisk until smooth. Carefully pour hot water into the batter and whisk.
Add 1 ½ cups of water to the instant pot.
Lightly spray a 7” springform pan with nonstick cooking spray. Pour batter into the pan. Cover with foil and lower into the instant pot using a sling. Seal and set on manual high pressure for 60 minutes.
Prepare frosting. In a small bowl, cream butter, cream cheese, and sugar. Add all remaining ingredients to the bowl and mix on high speed for 3 minutes. Cover, and store in the fridge until ready to use.
Once the instant pot has finished cooking, allow natural release for 10 minutes. Remove from the instant pot and let cool completely before adding frosting.
Once cooled, add frosting. Sprinkle with chopped pecans and enjoy!