You may find this of interest. I sent this entire discussion to Hornady along with the following note:

Subject: Suitability of 416 cal 400 gr. FMJ Encapsulated for Elephant

I've purchased a quantity of the subject bullets, #41677, for a planned elephant hunt. After reading the following, I'm not certain they will be suitable. Should I just use these for practice and try to get some of your steel jacked bullets for the hunt?

This was Hornady's response. So I guess I'm still looking for a suitable 416 caliber 400 gr. Solid.

Subject: RE: Suitability of 416 cal 400 gr FMJ Encapsulated for Elephant

We have actually had several customers kill Elephants without issue. The original reason we switched from Clad steel to Brass was the supply on steel dried up. We have a new metals supplier that we are able to get clad steel from again. I personally would not hesitate to shoot the brass jackets, but the clad steel will probably give you more confidence in the shot and with an elephant that is extremely important. Point of impact is extremely close between the two. So after the long version, my answer is make the change and use the others for practice. The new item number is 4167 and we are in stock.
Have a great trip, please send us pictures
Jason Hornady-Sales
Hornady, Mfg.