I liked s.meijer's answer and wrote my own version based on his:
function parseTemplate(template, map, fallback) {
return template.replace(/\$\{[^}]+\}/g, (match) =>
match
.slice(2, -1)
.trim()
.split(".")
.reduce(
(searchObject, key) => searchObject[key] || fallback || match,
map
)
);
}