Heat ghee in the Instant pot in the saute mode.
Roast the cashew nut pieces and raisins separately for a couple of minutes. Drain on a paper towel till ready to use.
To the same ghee, add the grated carrot and saute for 5-8 minutes till the raw smell goes and the carrot starts to soften.
Add the sugar, stir to mix. The carrots will start releasing liquid. Close the lid. Turn the Instant pot mode to Manual mode and vent in the "Seal" position. Pressure cook for 10 minutes. Wait for the pressure to release naturally.
Switch mode to saute and saute till all the liquid evaporates and the mixture starts to thicken. Take some mixture (it will be hot) in your hand and see if you can roll it into a ball. (If not, continue sauteing for some more time.) When the mixture rolls into a ball and holds shape, add the cardamom powder, cashew nuts, and raisins and mix well.
Transfer to a tray and let it cool for some time.
Using a tablespoon measure scoop out the mixture and roll into small balls (grease your palm with ghee if required). Repeat with the rest of the mixture.
Garnish these laddus by gently rolling in desiccated coconut or crushed pistachios.
Refrigerate them for at least 30 minutes before you serve.