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The Fulham academy product saw the start of his campaign disrupted by injury but ultimately made just two Premier League starts under the Dutchman, after the title was already sewn up.
And earning a place in Slot's side next term will not get any easier as the Reds make a splash in the transfer market.
The Anfield side are looking to improve their hand with a blockbuster move for Florian Wirtz in the offing.
Elliott has accepted that, while looking to depart Anfield is a difficult decision, a transfer could be the best move for his career.
The 22-year-old is keen to continue improving and noted he needs to reflect on his position at the club.
"It's just a situation that me and the team have to have a conversation about because I'm coming into an age now where I'm 22, I'm going to be 23 next season," he said.
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"I don't really want to be wasting years of my career because it's a short career.
I need to see if I'm content in doing what I'm doing and how can I improve as a player because that's the most important thing.
"I just want to improve and be the best possible version of myself.
If that's to go somewhere else, then it's a decision that I'm going to have to make and I just need to see what happens.
Liverpool are closing in on a deal for Florian Wirtz(Image: Getty Images)
"Nothing makes me want to leave.
But most importantly, it's just about what's best for my career."
Elliott has already seen links to the likes of Newcastle and was even touted as a potential makeweight in a deal to bring Wirtz to Anfield.
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