In a medium mixing bowl, whisk together egg yolks, lemon juice, water, salt, pepper and set aside.
Add one cup water to pressure cooker cooking pot and place in short legged trivet.
Place stick of butter into one ramekin and cover tightly with foil. Place tall legged trivet on top of ramekin and place Canadian bacon on top of trivet.
Grease poached egg cups VERY well and crack one egg into each poacher. Place egg poachers on top of Canadian bacon on trivet.
Lock on lid and lose pressure valve. Cook on high pressure for 1 minute. When beep sounds, immediately and carefully release all of the pressure.
Remove eggs, ramekin and trivets from pressure cooker and place taller trivet back into cooking pot. Leave pot on "Keep Warm."
Place mixing bowl with egg yolk mixture on top of trivet and while vigorously whisking yolks, drizzle in hot melted butter and vigorously whisk until mixture thickens and become opaque and pale yellow. Alternatively, use an immersion blender.
Slice two English muffins in half. Use an air fryer or toaster to toast and butter English muffins. Place one piece of Canadian bacon on top of the four English muffin halves.Use a spoon to loosen eggs and carefully remove eggs from poachers and place on top of Canadian bacon. Spoon hollandaise sauce on top of Canadian bacon and serve.