Sadly, it seems that routing from group/user busses to audio channels isn’t possible using Elements.
(this is perfectly understandable given it’s position/price in the Cubase lineup imo.)
However, there are a couple of slighty flawed workarounds if you need this kind of functionality.
Option 1 - If you have a spare input/output bus on your system, you could simply route the VSTi to a separate physical output, connect that to a spare input and then select that as the input on your audio track.
Obviously from a technical viewpoint this is sending your sound through the AD conversion process and back more than would be ideal, but depending on the source material and quality of your audio interface’s converters this might not be a big deal in most practical situations.
Option 2 - Use a “routing” plugin (such as the freeware “JS stream”) on the VSTi channel and an input buss (real or “dummy”) to stream the VSTi output directly to an audio track.
The main problem with this solution (at least on my setup), is a slight fixed delay on the audio track compared to the “live” VSTi output and also increased CPU usage.
(although this is using the JS stream 32-bit VST with 64-bit Cubase, which may explain the CPU usage and/or delay)
The other option is to upgrade to Cubase Artist or higher , but I understand the appeal of using a version that has a more limited feature set, so I hope this helps.