Sear the beef: Set Instant Pot to Sauté / High. Heat oil, season beef with salt & pepper, and brown in batches until golden (about 4 min).
Blend the chile sauce: While beef browns, toast chiles in a dry skillet 30 sec each side; remove stems/seeds and steep in 1 cup hot broth 5 min. Blend soaked chiles with onion, garlic, vinegar, cumin, oregano, cloves, and remaining broth until smooth.
Deglaze & pressure-cook: Pour chile sauce over browned beef, scraping up browned bits. Add bay leaf. Lock lid; cook Manual / High Pressure – 30 min with 10-min natural release.
Finish & serve: Discard bay leaf, taste for salt. If you like it richer, reduce on Sauté 5 min. Ladle into bowls; top with cilantro, radish, and lime.