Instant Pot Street Corn Queso

Name: Instant Pot Street Corn Queso
Ingredients: 2 tbsp. unsalted butter; 1 clove garlic, minced; 1/4 tsp. cayenne; 2 tbsp. all-purpose flour; 2 c. whole milk; 4 c. shredded cheddar; 2 c. shredded Monterey Jack; Kosher salt; Tortilla chips, for serving; 2 tsp. vegetable oil; 1/4 c. frozen corn, rinsed; 1/4 c. crumbled queso fresco; 1/4 white onion, chopped; 1/2 jalapeño, thinly sliced into rounds; Cilantro leaves, for garnish; Chili powder, for garnish (optional)