AFter the 60 minutes, I did a quick pressure release, and checked the temperature. It was anywhere from 190F to 201F. I decided to let it pressure cook for another 25 minutes. After the additional 25 minutes, I let it do a natural pressure release. Checked the temperature, and it ranged from 203F to 208F. Pulled the roast out, tented with foil, and let it rest for about 15 minutes. Here is the finished product:
Just as I expected, the bark did soften up. The taste was great, but was not that crunchy bark you get from a full BBQ cook. Also, this was a bone-in sirloin roast, so it's not a pulled pork kind of roast, and didn't shred very well. That's okay, because I wanted to test the smoke/IP combo and try and gauge the bark issue, which is exactly what I was able to do.
I don't think this the BBQ/IP method will be my go to method, but it is certainly a viable fallback solution if a full BBQ cook is not possible, just with the expectation that the bark will be quite a bit softer.