CA might be just warm enough for potting into a large tub over winter to make a little difference. Normally not worth doing because trees are dormant all winter so no growth, even in a big pot.
That's one way to develop a trunk. I'd do this if I wanted to develop an informal upright style tree. Successive chops like this can also give us bends in the trunk that look way better than the S shaped curves we normally get with wired bends.
Another style option, especially for elms is 'broom' style. Vertical trunk with branches all coming out from the top of the trunk and growing upward to form an umbrella canopy. This style is a very common natural shape for many deciduous trees and probably looks most like a 'tree' to many people. Broom style is often achieved by chopping a Chinese elm trunk at the height we want the branches to start. New buds grow from the top of the cut. As they grow, select 2, 3 or maybe 4 to be the main branches. Train these up and out. Successive chops of the branches makes those ramify into more and more smaller branches to form the entire canopy.
You will definitely get a better result with any of the above if your tree is fully healthy. It might take a year or 2 of good care for the tree to return to full health. New soil, more space for roots, adequate fertiliser and water are all important.
I know it may seem like a long time but probably better to postpone all the plans for chops and styling until the tree is healthy - maybe a year or 2. Bonsai is a long term project. A couple of years delay is really nothing in tree terms.