In the beginning of Re:Zero Elsa played as a major character and roadblock for Subaru. We also learn that she manages to escape alive and says that its not the end of her. Elsa is one of the people who seems to be against the Royal Election. The anime is already 19 episodes in and we never hear from her again. I find it strange since both Felt and Old Man Rom plays a role in the Royal Election but Elsa doesn't comeback.
Elsa will not play an active role in the current arc. but she will return as one of the major antagonist (like betelgeuse) in the next arc.
She is already deceased as it was stated in the wiki. Although the cause of her death is still unknown. More details here.