Shawn is it, right? Those Elmax blades were hunters IIRC. It doesn’t matter if it’s A2, D2, AEBL, S35vn, M4, etc etc etc. If it is an air/plate quench steel, it can be taken to “almost” final dimensions. I say “almost” because some knives like kitchen knives work better with edge thickness (prior to sharpening) 0.005” and below, which should be ground that thin post heat treat. I would not recommend any steel be heat treated with edges that thin. It’s all about the harshness of the quench. The faster/harsher the quench, the thicker the edge needs to be. 0.040” is plenty thick for any steel. 0.010” is what I would say is minimum for air/plate quench. And a “tad” thinner is possible, as per experience, but that was pushing it. There was a very small warping with Elmax and CPMM4 that thin (sub 0.010”) on the edges, but not enough warp that couldn’t be taken out post HT grind for thin thin thin edge on a hunter. That’s why I say you can get away with 0.010” on air hardening steels, and IIRC Peters asks for 0.015” and up.
And of course, if you are going to oil quench an air hardening steel in medium speed oil, as is often done, keep those edges thicker. Pretend they are carbon steel. Again...how thin an edge can be taken prior to heat treat is mostly about quench speed.