For whatever reason, perhaps because it’s a browser-based version, CTRL + backtick doesn’t do anything.
The terminal menu also indicates that CTRL+SHIFT+backtick should open a new terminal but that doesn’t do anything either.
I can open a new terminal from the menu in order to unhide my existing terminal(s), but that’s not ideal.
Turns out there’s an easy fix after all.
I added the Shortkeys extension to Chrome and created a rule for CTRL + j to do nothing.
CTRL + j still unhides the terminal in VS Code (within Chrome) but doesn’t also open Chrome’s Downloads page.