Elliott has made just five appearances since joining on a season-long loan from Liverpool and has not featured in the club’s last four Premier League matchday squads.
Villa have an obligation to buy the 22-year-old for £35million once he makes 10 appearances and there has been increasing speculation of a potential January exit.
Speaking ahead of Villa’s Europa League tie with Young Boys on Thursday night, Emery claimed no decision had yet been made.
"We now have a lot of matches. We must focus on each match with the players we have now," said Emery.
"We are not thinking about the transfer window in January. He is one of our players and hopefully he can help us. Then, we are going to decide."
Elliott’s situation is made complicated by the fact he played seven minutes across two appearances for Liverpool before joining Villa on deadline day, meaning he cannot play for another club this season.
His most recent appearance for Emery came as a late substitute in a 2-0 win at Feyenoord on October 2.
Elliott has featured in all four of Villa’s Europa League squads and is likely to be included against Young Boys, though his chances of getting on the pitch seem remote.
Academy player George Hemmings was named on the bench ahead of him for Sunday’s 2-1 win at Leeds.
Asked what Elliott can do to play more, Emery said: "Firstly, there are other players performing very well. This is the first argument of why he is not playing. He is training very well every day."