A submersible sewage pump is designed for conveying solid–liquid two-phase media containing sewage, waste, and fiber components, through its small and compact design and its excellent anti-winding and anti-clogging capabilities. In this paper, the computational fluid dynamics–discrete element method (CFD-DEM) coupling model is used to study the influence of different conveying conditions and particle parameters on the wear of the flow components in a submersible sewage pump. At the same time, the energy balance equation is used to explore the influence mechanism of different tip clearance sizes on the internal flow pattern, wear, and energy conversion mechanism of the pump. This study demonstrates that increasing the particle volume fraction decreases the inlet particle velocity and intensifies wear in critical areas. When enlarging the tip clearance thickness from 0.4 mm to 1.0 mm, the leakage vortex formation at the inlet is enhanced, leading to increased wear rates in terms of the blade and volute. Consequently, the total energy loss and turbulent kinetic energy generation increased by 3.57% and 2.25%, respectively, while the local loss coefficient in regard to the impeller channel cross-section increased significantly. The findings in this study offer essential knowledge for enhancing the performance and ensuring the stable operation of pumps under solid–liquid two-phase flow conditions.