With their unearthly grace and fine features, elves appear hauntingly beautiful to humans and members of many other races. They are slightly shorter than humans on average, ranging from well under 5 feet tall to just over 6 feet. They are more slender than humans, weighing only 100 to 145 pounds. Males and females are about the same height, and males are only marginally heavier than females.
Elves' coloration encompasses the normal human range and also includes skin in shades of copper, bronze, and almost bluish-white, hair of green or blue, and eyes like pools of liquid gold or silver. Elves have no facial and little body hair. They favor elegant clothing in bright colors, and they enjoy simple yet lovely jewelry
The above excerpt is from the 5e PHB, mind you. Anyone even moderately interested can look at PHBs from virtually every edition in addition to FR campaign setting guides across the years and they'll see essentially the same description. Nowhere are elves simply described as "They appear as humans, but with elongated ears."
The quoted part is exactly the way I would like to have my elves, and I'm not a DnD fan.
On the other hand, why Larian should not consequently use one body for humans, dwarves, elves, tieflings, devils, goblins, (small) giants, and all the other nonsensical fantasy racial stuff anyway? Easy programming for the win.