Yes, elk can blow or wheeze, it can be situational for the reasons they do it. It's rarely heard so it's not a sound they use by first choice!
As mentioned the Nervous Grunt slash Nervous Bark is more commonly heard which is comparable to a Whitetail's Blowing. Because you hear this Grunt/Bark it doesn't mean game over, it means you need to know what to do next!
In the ElkNut APP we discuss the sounds Bulls & Cows use on a daily basis, this Grunt/Bark is one of them & when we as hunters can use them to our benefit as well as understanding the message being sent by a Cow Or Bull. All is not over when this sound is heard! Here are some ideas from the APP! There's more there but this gives some food for thought!
What Does It Mean When I Hear It?
It sounds similar to a bark but instead is a nervous reaction or grunt to a seeming threat. The elk giving this sound will do it with a single grunt or bark, it's not done repeatedly like a warning bark. The elk will generally hang in that same area and can repeat this Grunt for up to a few minutes. This sound is asking for a visual or a believable elk sound to convince them you are another elk and not a threat. Bulls and cows alike make Nervous Grunts.
What Should I Do If I Hear It?
If the Nervous Grunt is given 2 or 3 times within 90 seconds but remains unanswered elk will most likely vacate the area. If you've accidentally bumped unseen elk and hear this sound give 1 or 2 cow calls immediately to settle them down, 4-5 soft chuckles can also be comforting to them. If the wind is in your favor along with good cover continue with soft mews while heading towards the elk this will anchor them thinking you are another elk joining them. If this isn't possible because of terrain or wind the elk will most likely move away if something isn't done.
There are more suggestions in response to this sound which can aid us in handling nearly any encounter instead of not knowing what to do!
ElkNut/Paul