Mount Elizabeth is, although its name belies the truth, a mountain that resembles more a big hill in the heart of the Gippsland National Park. In my opinion, it merits a look but not necessarily a visit. I think, personally, that the state of Victoria has many other national parks and mountain ranges that are more impressive, like the Grampians, the Yarra Ranges or the Alpine National Park which must be visited as a priority, especially if you are trekkings enthusiasts!
I found Gippsland much more European than the rest of the region, with some strange similarities to Switzerland: rolling green countryside, cattle farms. The region also has great opportunities for long hikes over several days that will delight the most athletic, passing, notably over the summit of Mount Elizabeth.