The 23-year-old winger-midfielder joined Villa on a season-long loan last summer, with a clause obliging the West Midlands club to sign him permanently if he made 10 Premier League appearances. He made four. Manager Unai Emery made clear in January that Aston Villa had no intention of honouring the clause, leaving Elliott in a prolonged limbo that saw him train daily without meaningful involvement.
Slot was speaking ahead of Friday's trip to Villa Park.
"I think for him, for everyone, it didn't work out as he wanted it, as we wanted it and probably also how Villa wanted it — because you usually sign a player or bring him in on loan to use him. That hasn't happened a lot. That's not for me to answer why that is."
He was sympathetic but refused to criticise Emery's choices directly.
"It is never nice for a player not to make so many minutes, especially after the season he had with us, where I assume he made even more minutes. Such a talented player — he did so well at the Under-21 Euros. You want a player like that to play more. But he went to a good team with a lot of good players. It is always a pity when a player like that doesn't play a lot."
On where Elliott fits next season.
"He is contracted to us, so he will be with us at the start of next season."
Whether that translates into a genuine role at Anfield or another exit remains open. Elliott has a year left on his contract, and Slot's phrasing — confirmed for pre-season, not confirmed for the squad — left deliberate room.
Elliott scored the winner on loan at Brentford in the Carabao Cup earlier in the season before the Villa move, and impressed for England's Under-21s at last summer's European Championship. His long-term future is likely to be shaped by whether Slot, who is fighting for his own position at the club, remains in charge beyond this summer.