I wish that Windows Terminal had a right-click shortcut in Explorer to open an instance in the current folder.  Turn out that adding one is very simple.  You simply need to add some keys in the Registry.

Copy/Paste the following keys and save them in a .reg file.

Replace the USERNAME placeholder with your Windows user. 

Download the icon: wt.ico (4 KB)

Place the icon file in a folder of your choice and edit the path.

Windows Registry Editor Version 5.00

[HKEY_CLASSES_ROOT\Directory\Background\shell\wt]
@="Windows Terminal here"
"Icon"="C:\\Users\\USERNAME\\Pictures\\Terminal\\wt.ico"

[HKEY_CLASSES_ROOT\Directory\Background\shell\wt\command]
@="\"C:\\Users\\USERNAME\\AppData\\Local\\Microsoft\\WindowsApps\\wt.exe\" \"-d .\""

Double-click on the file to merge the keys and that's it!