Place the Instant Pot trivet in the insert and pour 1/2 cup water into the bottom of the pot.
In a small bowl, whisk together the brown sugar, cayenne pepper, garlic powder, paprika, salt, and black pepper until combined.
Trim whole wings if needed, removing tips and separating wingette and drumette; discard tips or save for stock.
Sprinkle the spice mixture over the wings and rub it in with your fingers to coat evenly.
Arrange the seasoned wings on the trivet in a single layer or slightly stacked, close the lid, set the valve to sealing, and select high pressure (Manual) for 5 minutes.
When the cook time ends, press cancel/off and let the pressure release naturally for 10 minutes, then carefully vent remaining pressure and open the lid away from your face.
Remove the wings to a bowl or plate and pour the BBQ sauce and optional hot sauce over them; toss gently to coat.
To finish under the broiler: arrange sauced wings on an aluminum foil–lined baking sheet and broil 2–5 minutes until the sauce caramelizes, watching closely to avoid burning.
To finish on the grill: place sauced wings over direct heat and cook until the sauce is caramelized, turning as needed.
Let the wings cool briefly before serving.