There are two problems I currently see.
The subet operator does not have the parameter outputImageScaleInDb. You should remove this one.
Instead you should add as parameter which bands you would like to have in your target product.
parameters.put('sourceBands', 'B7')
The call to GPF.createProduct() should get the source product as last parameter and not a band.
target_1 = GPF.createProduct("Subset", parameters, product)
This way it might work.
Actually you don’t even need to use Python for this, of course you can if you like, but it can also be achieved by writing a graph XML file.
If published an example here: