I wouldn't recommend using the VR presets for graphics in Elite, they are old and setup for the pre Rift-s Q1 HMD's so a heavy focus on supersampling over most things.My recommendation for the Quest 2 is to run the HMD itself in 80hz, and I then set the resolution for the link connection at 1.5x, 3090. 3080 should handle this as well.
I recommend 80hz since Elite still has some CPU bound idiosyncrasies and reaching 80 is a surprisingly easer target to reach than 90hz.
Even for VR ultra, most of the settings are actually left at medium or low, what is cranked is the various supersampling options, since the settings are old and we had much lower resolution HMD's back then, the multipliers they apply can produce some really high render targets, and we are starting to see very diminishing returns with supersampling, even more so than before.
Take the g2 for instance, many doesn't even supersample that, but run it between 50-80% of ideal render target, you would honestly need a 3080 at minimum to consider running that at 100% though.
The things that will look good and I choose to prioritise over supersampling, HMD or otherwise now, is effects quality, shadows high and textures, all of these increase your immersion significantly imo.
All in all, play around with the settings in detail, see what you prefer.