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It didn't expand because it didn't have enough velocity when it hit the elk.
That's the simple version.
It's not uncommon for handgun ammo to not expand. Yes, even good quality hollow points. It's especially true for lower velocity cartridges like the .45 ACP.
This is the primary reason why most experienced handgun hunters tend to see their chosen firearm as a long range punch press. Rather than relying on expansion like one would with a high velocity rifle cartridge, they use a heavy-for-caliber bullet with a big, wide, flat meplat to make a bigger permanant wound channel. For this purpose, plain ol' lead bullets work about as well as anything, and are better than most.
Some thoughts for consideration...
When hunting a critter as large as an elk with a handgun, you really don't want a lot of expansion. Expansion lessens penetration, and you want all the penetration you can get from a low velocity cartridge like the .45 ACP.
To put it bluntly, a .45 ACP is way underpowered for elk. If that's what you're going to use, then you'll need everything in your favor that you can get. What you want is a soft lead, flat nosed SWC/Keith type bullet that will feed reliably in your pistol, with enough weight and velocity for good penetration.
That's probably the best you'll be able to come up with for this purpose.
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