The closest I've come with macOS as-is and no mods or 3rd party software:
Opens the Utilities sub-folder in /Applications/ (where Terminal.app lives)
Selects the Terminal.app
Opens the Terminal.app and closes the finder window.
This has worked since day one with every OSX release.
With a slight modification to
System Preferences >> Keyboard >> Shortcuts::Services, this is a close runner up, but it requires that you select a folder first:
...for example from the Finder at login you could
- Cmd+Up Arrow and your home directory
~/ would open in the Finder, then
- Cmd+Up Arrow again to the /Users/ directory. Now your user home directory
~/ should be selected (if in list or icon view, not column).
- If you then hit your custom "Services" key combination (e.g. Ctrl+Opt+Cmd+t) to launch a "New Terminal at Folder" the Terminal.app will launch at your home directory
Lastly, in an effort to get something as close as possible to launching a Terminal.app window from the Finder with Ctrl+Alt+t... Since the Option key is kinda equivalent to the Alt key... using the "Services" custom key combo to launch a "New Terminal at Folder" you could also create an alias of your home directory on the desktop. If you rename the alias Space, then from the Finder it's:
Space to select your
~/ alias, then
Ctrl+Opt+t to Open a Terminal there.
...and you end up with a little home living on your desktop which has an arrow pointing to it: