For deer? Yes. For elk? Marginal, and certainly not with standard factory ammunition and at the range you specify.

Factory ammunition IS limited by the availability of weak-framed revolvers that cannot handle the same pressures as a good modern revolver like the Ruger, so if you hunt with it at all - reloading is a must. Even in a rifle, it's still a pistol cartridge, and its trajectory looks more like a mortar than it does a rifle.

Before you attempt to take down an elk, I suggest you try it deer hunting with reloaded ammunition. Let that experience guide you toward taking on an elk or not.

I've hunted deer with a .44 Redhawk and, while it did perform - and it was challenging getting within reasonable range - I was not sufficiently convinced to give up my rifle and do not intend to use it on elk.