Sensor wear usually means burned pixels. This only happens when shooting continuous video without letting the camera cool down. Since timelapse doesn’t mean continuos recording, sensor wear that would be of concern.
Shutter wear, on the other hand, is a valid concern. Every camera has an average shuttercount limit (check this website for actual numbers). To conserve as much of your shutter’s lifetime as possible, I suggest what @juhsit also mentioned: If your camera has a way to set the timelapse to use mirror-lockup and electronic shutter, use that, as it should mean only one shutter actuation per timelapse.