The egg button on the Instant Pot is a pre-set that is used for hard-boiling eggs. When used, the Instant Pot sets the timer for 5 minutes. If you have the egg setting on your Instant Pot, you can use it. If not, just set the Instant Pot to pressure cook on high for 5 minutes. If you want soft-boiled eggs, set the timer to 4 minutes instead of 5.