Sear the Meat: Heat olive oil in a skillet over medium-high heat. Season the elk roast with salt, pepper, rosemary, and thyme. Sear the roast on all sides until browned (about 3-4 minutes per side).
Prepare the Crock Pot: Place the carrots, potatoes, onions, and garlic in the bottom of the crock pot. Add the seared elk roast on top.
Add the Liquid: Pour the beef broth (and red wine, if using) into the crock pot. Drizzle balsamic vinegar over the roast for added flavor.
Cook: Cover and cook on low for 6-8 hours, or on high for 4-5 hours, until the elk roast is tender and fully cooked (target temperature: 135°F for medium-rare).
Rest and Slice: Remove the roast from the crock pot and let it rest for 10-15 minutes before slicing. Serve with the vegetables and gravy made from the cooking juices.