If the subfolder is the most critical criteria, change the first filter type from Rating to Folders, choose your subfolder, then add the Rating filter and choose two stars.
Ah, yes, much better, thanks.
I'm sorry if you find it to be a 'faff' (I had to look that one up)
For a moment I was worried it might have a different meaning in American...
While I'm here: selecting sub folders in my Folder Path, I notice that if I'm in one folder and then select another I have two folders selected. I don't move from one to another. Wouldn't that be expected? Usually if I want to select two items I need to command-click. In PM+ I have to deselect every time I want to see just the contents of a different folder.