Cut the spaghetti squash into rings and remove the seeds and stringy pulp. You can soften the spaghetti squash in the microwave for 2-3 minutes before cutting it.
Add the cover and turn the vent to sealing. Press Pressure Cook on high pressure (or Manual on some Instant Pots) and set the timer for 8 minutes.
Once it’s finished cooking, do a quick pressure release. Open the lid and remove the cooked spaghetti squash. Use a fork to remove the strands of spaghetti squash.
Set the Instant Pot to saute and allow it to heat up. Add the olive oil and minced garlic. Saute for a couple of minutes. Add the sliced grape tomatoes and saute until softened.
Add the cooked spaghetti squash and stir to coat with the cooked tomatoes. Add the whipped cream cheese, shredded Parmesan cheese, and chopped basil. Toss or stir to combine.