These are the packages that would be merged, in order:

Calculating dependencies ... done!
Dependency resolution took 1.53 s (backtrack: 0/20).

[ebuild  N     ] dev-libs/libelf-0.8.13-r4::gentoo  USE="nls -debug" 146 KiB
[blocks B      ] dev-libs/elfutils ("dev-libs/elfutils" is soft blocking dev-libs/libelf-0.8.13-r4)
[blocks B      ] dev-libs/libelf ("dev-libs/libelf" is soft blocking dev-libs/elfutils-0.194)

Total: 1 package (1 new), Size of downloads: 146 KiB
Conflict: 2 blocks (2 unsatisfied)

 * Error: The above package list contains packages which cannot be
 * installed at the same time on the same system.

  (dev-libs/elfutils-0.194:0/0::gentoo, installed) pulled in by
    >=dev-libs/elfutils-0.155-r1:0/0[abi_x86_32(-)?,abi_x86_64(-)?,abi_x86_x32(-)?,abi_mips_n32(-)?,abi_mips_n64(-)?,abi_mips_o32(-)?,abi_s390_32(-)?,abi_s390_64(-)?] (>=dev-libs/elfutils-0.155-r1:0/0[abi_x86_64(-)]) required by (virtual/libelf-3-r1:0/1::gentoo, installed) USE=""
    dev-libs/elfutils[debuginfod(-)] required by (sys-devel/binutils-2.46.0:2.46/2.46::gentoo, installed) USE="(cet) debuginfod nls pgo plugins zstd -doc -gprofng -hardened -multitarget -static-libs -test -vanilla -xxhash"
    >=dev-libs/elfutils-0.176-r1:= required by (dev-util/debugedit-5.3:0/0::gentoo, installed) USE="-test -verify-sig"
    >=dev-libs/elfutils-0.176-r1:0/0= required by (dev-util/debugedit-5.3:0/0::gentoo, installed) USE="-test -verify-sig"

  (dev-libs/libelf-0.8.13-r4:0/0::gentoo, ebuild scheduled for merge) pulled in by
    =dev-libs/libelf-0.8.13-r4


For more information about Blocked Packages, please refer to the following
section of the Gentoo Linux x86 Handbook (architecture is irrelevant):

https://wiki.gentoo.org/wiki/Handbook:X86/Working/Portage#Blocked_packages