We know a few things about Elyria, what makes it so different from Earth? Sure, it's a fantasy world, but it isn't going too far in that direction. We had seers, druids, witches, etc. We might see them as charlatans now, but they really existed. In OUR world.
What if we combine these two words, Elyria and Earth? I think it's possible, with minor, even insignificant changes. The map would have to be accurate, and the lore must be based on our legends and history. But EVERYTHING else stays.
Same rule, we all start on one continent. Europe will be more than fitting. Let's say 500 BC, very early iron age. Most weapons are still made of bronze, only a few exceptional blacksmiths use iron. Very important, less than a century before Herodotus. Low population, small cities, not that hard to implement in a game. Plus, ruins of Atlantis might be visible in this world, a great challenge for explorers.
We have quite accurate height maps of Europe these days, and many game engines are able to import them. Well, not directly, but the process is quite simple. Yet, no one attempted this on a large scale (to my knowledge), which is odd. On a smaller scale, I saw it on Cities Skylines, and that's enough proof that this concept works perfectly. Vegetation, rock formations and a few other elements still need to be procedurally generated. It won't matter that much if that's a bit random, if it's done right.
This can also be very educative, even with all the fantasy elements. And there's an obvious possibility of creating an alternative history, one that might go quite far from our real one. But that would be the beauty of it. Start in a realistic background and rewrite history. Fight for the land of your real ancestors, not only for a random generated one!