That sounds perfect, actually. I love steel cut for the simple reason that their texture is fantastic and the earthier flavor versus regular oats has more complexity and depth. But stove top usually requires persistent attentiveness to avoid boiling over (first 5 minutes) or burning (remaining 15-20). Your post makes me want to buy an IP to try it out, because a mostly hands off cooking process for something like that would be great!
It really is hands off once you start it going such that you can start it, go about your morning routine, and go grab it when you're ready. Takes a couple minutes prep to toss everything in it, and then it can sit for quite some time on the warming mode.
Thanks a bunch!