I had to scour the internet for a good 30 mins but I found a doable and hassle-free solution in the end.

Open Automator on macOS

Select Quick Action after pressing New Document

Search for “Run AppleScript” in the top bar and select it

Below the title ‘Run Applescript’ some scripting code will appear

Now delete all that code and replace it with the below script

on run {input, parameters}
 
 tell application "terminal"
  reopen
  activate

 end tell
end run

Now save this quick action as “Open Terminal”

Open Settings

Keyboard

Shortcuts

Services

Scroll to the bottom and tick the ‘Open Terminal’ quick action

Assign it a suitable shortcut and you should be good to go!