The distance out you are and the trajectory of your club has everything to do with it. If you're using a wedge the elevation doesn't affect it as much as it does with a longer iron. Look at the shape of the different trajectories.
Oakmont #1 is a good example. From closer tees you hit your approach from 125-135 out. This would be a PW into a green 36 feet below you. That's a 12 yard drop but if you take that wedge and subtract that distance in your calculations you will come up short. The wedge trajectory comes in more straight down.
Conversely, from the longer tees you wind up approaching from 175 yards or more. Now that elevation drop comes into play because the lower trajectory of the longer iron is going to come in at a lower angle and the ball will land long.
You also need to factor in how that elevation change takes place. Is it a gradual change over the course of the hole or does it happen all at once, like at the end of the shot where the shot is losing altitude? BPB#15 is this way-flat until you get to the base of the hill. CCC#4 is the same way. The small elevation change happens right at the end of the approach shot which is why it's real easy to wind up in that trap. You can't universally apply elevation corrections. There's several other factors you need to pay attention to.