Select SAUTE-High, set the time for 10 minutes and press START.
Add the butter to the Inner Pot and let it melt; then stir in the onion, salt and sugar, and cook for about 3 minutes.
Press CANCEL to turn off sauté.
Add in the thyme and bay leaf, close the Pressure Cooking Lid on the pot and set to VENT. Select SLOW COOK-Custom-High for 3 hours. Stir the onions halfway through.
When done, carefully open the Pressure Cooking Lid. Stir in the Tomato paste, beef broth, red wine, soy sauce, Worcestershire sauce and dry white wine. Combine well.
Close the Pressure Cooking Lid on the pot and set to VENT. Select SLOW COOK-Custom-High for 1 hour.
When done, carefully open the Pressure Cooking Lid, remove and discard thyme and bay leaf. Season with salt and pepper to taste.
Place the French bread on top of the soup and finish it with the shredded cheese.
Finally use the Air-Fry Lid, select BROIL-400 F and set the time for 8 minutes.