Make a light-weighted application with AppleScript.
Create a new AppleScript script, input:
try
tell application "Finder"
set sel to selection
set numElements to count sel
if numElements is 1 then
set itemPath to POSIX path of (sel as string)
else
set itemPath to POSIX path of ((folder of the front Finder window) as alias)
end if
tell application "Terminal"
do shell script "/usr/local/bin/subl " & quoted form of itemPath
end tell
end tell
on error
log "Error: No selection"
end try
Open System Preferences > Security & Privacy > Privacy > Accessibility, add your app to the list.