Yes it has a timer feature. Haven't tried it so I don't know too much about it.
"How does the Delayed Cooking work? Why does cooking starts right away if I set the timer to 2 hours?
Instant Pot IP-CSG and revision 1 IP-LUX timer based delayed cooking shows the ready-to-eat time. That is, if you set the delay timer to 8 hours at 9am, the food will be ready at 5pm, 8 hours later. The revision 2 of IP-LUX and IP-DUO changed this to delayed starting time.
Since pressure cookers cannot be opened immediately after cooking is done, the delayed cooking takes into account the time needed to depressurize. Furthermore, the length of pre-heating time depends on the volume of food and temperature of the liquid and food. Because of these, delayed cooking has to start early and finish before the specified time. If the program completes earlier than the specified time, automatic keep-warm function kicks in and maintains the food ready to serve.
Due to these design considerations, if you set the timer to 2 hours, some cooking program, such as “Multigrain” function, may start right away. During delayed cooking, the starting time depends on specific cooking functions.
How long will the Instant Pot keep the food warm ?
After cooking, Instant Pot automatically starts the keep-warm function and lasts for up to 10 hours."
instantpot.com/faq/questions-after-your-purchase/