I think this is a Diaz moment for the midfield (in that we'll pull the trigger on one of our targets) and that we'll get a midfielder in before the window closes. After the centreback crisis, Klopp acknowledged and concluded that he and the coaching staff should have trusted Nat and Rhy to play in their natural roles earlier instead of shoehorning midfielders which eventually left the team imbalanced.
The key word is balance. While one-paced, the Henderson-Thiago-Fabinho trio still works on its day because of the brilliance of Thiago and how each three know their roles and cover each other well enough. Elliot in place of Thiago changes that dynamic. Elliot can bring the creativity and playmaking, in his own way, but, as of now, Elliot needs more protection behind him, more so than what eve Henderson and Fabinho playing alongside him can provide, especially in tougher games.
Klopp and the coaching staff will rightly look at what we already have in the squad for a solution, but we don't have Nat and Rhy level options, with the closest being Bajcetic, who's only 17.