Prep the pan and cooker. Grease your cake pan and line the bottom with a circle of parchment. Add 1 cup of water to the pressure cooker insert and place a trivet inside.
Mix dry ingredients. In a large bowl, whisk flour, baking powder, baking soda, salt, cinnamon, nutmeg, and cloves until evenly combined.
Whisk wet ingredients. In a separate bowl or large measuring cup, whisk granulated sugar, brown sugar, oil, applesauce, eggs, vanilla, and lemon juice until smooth.
Combine gently. Pour the wet ingredients into the dry.
Stir with a spatula until just combined. Do not overmix; a few small lumps are fine.
Fold in mix-ins. If using nuts, raisins, or chocolate chips, fold them in now. The batter will be thick but scoopable.
Fill the pan. Scrape the batter into the prepared pan and smooth the top. Cover tightly with foil to prevent condensation from dripping onto the cake.
Position the pan. Use a sling made from a folded strip of foil or a silicone sling to lower the pan onto the trivet inside the cooker.
Pressure cook. Seal the lid.
Cook on High Pressure for 35 minutes. Allow a 10-minute natural release, then quick-release any remaining pressure.
Check doneness. Carefully lift the pan out. Remove foil.
A toothpick inserted in the center should come out mostly clean with a few moist crumbs. If it’s wet, re-cover and pressure cook for 5–8 minutes more, then quick-release.
Cool. Let the cake cool in the pan for 10–15 minutes, then run a thin knife around the edge and invert onto a rack. Peel off parchment and cool completely.
Finish. Dust with powdered sugar, drizzle with a simple glaze (1/2 cup powdered sugar + 1–2 teaspoons milk), or serve as-is.