Set Instant Pot on saute. Add olive oil, then add onion, bell peppers, celery and sausage. Saute 2-3 minutes, until sausage starts to brown.
Stir in garlic, oregano, paprika, thyme, salt, black pepper, cayenne pepper, tomato paste and brown rice. Stir in diced tomatoes with the juice and top with bay leaves.
Set Instant Pot on high pressure for 12 minutes, with steam release handle set on ‘sealing’ and allow slow release and wait until red button sinks.
Carefully remove the lid and remove bay leaves. Taste and adjust seasoning, if necessary. Stir in parsley. Serve with fried eggs, if desired.