I like the idea. What if there was a more general hotkey to bring up a menu of options for what to do with a note? This could include searching, opening in a different software, opening normal link search (like you said), etc.
Can you think of any other use cases for this kind of tool? Is the level of highlights too small a scope for this kind of thing? I’m thinking about the implications of integrating this sort of thing with a visualized breadcrumb trail or a larger, OS-level path-based copy-paste