Point being - there is a quantifiable difference between biological/organic life and non-biological matter. The difference cannot be explained in absolute detail, but we have scientific studies that recognize this difference. Do we agree on that?

: I would still say that physics is probably the 'master' science and chemistry
: is a subset of physics and biology is a subset of chemistry.

Let me quote wikipedia (as wavering as it can be):

Biology is a natural science concerned with the study of life and living organisms, including their structure, function, growth, evolution, distribution, and taxonomy. Modern biology is a vast and eclectic field, composed of many branches and subdisciplines. However, despite the broad scope of biology, there are certain general and unifying concepts within it which govern all study and research, consolidating it into single, coherent field. Biology generally recognizes the cell as the basic unit of life, genes as the basic unit of heredity, and evolution as the engine that propels the synthesis and creation of new species. It is also understood today that all organisms survive by consuming and transforming energy and by regulating their internal environment to maintain a stable and vital condition.

Subdisciplines of biology are defined by the scale at which organisms are studied, the kinds of organisms studied, and the methods used to study them: biochemistry examines the rudimentary chemistry of life; molecular biology studies the complex interactions among biological molecules; botany studies the biology of plants; cellular biology examines the basic building block of all life, the cell; physiology examines the physical and chemical functions of tissues, organs, and organ systems of an organism; evolutionary biology examines the processes that produced the diversity of life; and ecology examines how organisms interact in their environment.

Biology isn't a subset of chemistry. Chemistry is a field of study that some biologists focus on.

: What I mean by that is biology is the study of a very specific subset of
: chemical reactions found only in what is referred to as 'living'
: organisms'

That is one area of study within biology as a whole.

: whereas what chemistry is in general is the remainder of
: chemical reactions outside the land of the living. But both of those
: disciplines ultimately relate back to physics.

Chemistry itself isn't defined by study of living or non-living organisms or matter. It is [Oxford] "the branch of science concerned with the substances of which matter is composed, the investigation of their properties and reactions, and the use of such reactions to form new substances."
Study of chemistry can be applied within a biological or non-biological context, it doesn't make that distinction. That's why there's "biochemistry", not simply "chemistry", to describe more specifically what it is being studied (ie, biological organisms, and not rocks; eg geochemistry). Heck there's even "Biogeochemistry" - the field of study focusing on the effect of life on the chemistry of the earth.

Life is distinguished from non-life all over place. There is a difference. Will we as human be able to replicate the process that is required to make that jump from non-biological matter to a biological organism? *shrug* who knows. Only time will tell.