For the grits, put the grits, water, and salt in your instant pot, and set to pressure cook for 12 minutes. Wait until the pressure builds up and your timer starts before cooking the shrimp.
When ready, add the butter and olive oil to a heavy, deep skillet. Heat to medium high and add the shrimp and seasoning. Cook until shrimp just turn pink, and remove from pan.
Add the onion and garlic and cook until soft and slightly caramelized. Add the zucchini and peppers and cook until soft. Add the tomatoes and lemon juice and cook until tomatoes soften. Add the shrimp back to the pan and stir until heated up. Add a hefty dose of chopped parsley.
When the grits are done, stir in the cheeses and butter. Season generously with black pepper.