Let $\mathsf{C}$ be a possibly large category with a Grothendieck topology satisfying the Weakly Initial Set of Covers condition: there is for each $X$ a set (not a proper class) of covering families of $X$ such that if $\{U_i \to X\}$ is an arbitrary covering family, it is refined by one in the set. In the case where $\mathsf{C}$ is small, Mac Lane and Moerdijk construct a subobject classifier $\Omega$ in the category of sheaves on the site $\mathsf{C}$. I want to know: if $\mathsf{C}$ is allowed to be large (but satisfying the weakly initial set of covers condition), can we still construct $\Omega$?
For example, $\mathsf{Top}$ is a large category, and we may take the covering families on $X$ to be sets of local homeomorphisms $f_i \colon V_i \to X$ such that the union of the images $\bigcup_i f_i(V_i)$ is all of $X$. Every such covering family is, one can check, refined by an open cover of $X$, and there are clearly only a set of open covers of $X$.
If one has a weakly initial set of covers for each object of $\mathsf{C}$, then the plus construction shows that every presheaf on $\mathsf{C}$ may be sheafified, great.
If $\mathsf{C}$ is small (so that there are only a set of arrows in the entire category), then there is for each $X \in \mathsf{C}$ a set of sieves on $X$, where I remind you that a sieve is a collection $S$ of arrows $f\colon U \to X$ that forms a "right ideal" in the sense that if $h\colon V \to U$ is an arbitrary arrow and $f$ belongs to $S$, then $fh$ belongs to $S$. Say a sieve covers $X$ if it contains a covering family. Mac Lane and Moerdijk define what it means for a sieve to be closed, show that every covering sieve has a closure (which is again covering) and define
$$\Omega(X) = \{ \bar S : S \text{ covers } X \}.$$
This is clearly a set when $\mathsf{C}$ is small, and the assignment $X \mapsto \Omega(X)$ is functorial in this case as well, since covering sieves pull back along any arrow $f\colon Y \to X$ to covering sieves on $Y$, and the closure of a pullback sieve is the pullback of the closure. Anyway, this presheaf turns out to be a sheaf, and it is the subobject classifier above.
If $\mathsf{C}$ is large, one only gets a set $\Omega(X)$ if one restricts to those covering sieves on $X$ generated by, for example, a weakly initial set of covers for $X$. The problem, then, is that given such a sieve $S$ and an arrow $f\colon Y \to X$, we know that the pullback sieve $f^* S$ covers $Y$ so is refined by a sieve generated by an element of the weakly initial set of covers for $Y$, but may not be equal to such a sieve, so $\overline{f^*S}$ need not belong to $\Omega(Y)$, and—to me, at least—there doesn't appear to be a natural choice of an element of $\Omega(Y)$ to associate to $S$.