The Lord of the Rings: The Rings of Power must make Elrond's character significantly more interesting in season 2, and his canon history is the best place to start. The iconic elf spends most of season 1 supporting the mithril plotline. However, since his involvement in this arc has come to a close with the creation of the three Elven Rings, there is little direction currently left for the character. As one of the few individuals most audiences will recognize from Lord of the Rings, his minimal involvement in the central plot and uninteresting character development won't help the show become more compelling.

https://screenrant.com/lotr-rings-power-season-2-elrond-problem-fix/