Seems so simple, and would be nice if it was a one line setting or solution, but after searching forums, I found a pretty easy fix.
Add this code to your settings file:
"caret_extra_bottom": 0, "caret_extra_top": 0, "caret_extra_width": 8, "caret_style": "phase",
And you will get a cursor like this:
Adjust the width to your comfort level. I like 4.
credit Zoran Simic here