diff --git a/pcsx2-qt/MainWindow.cpp b/pcsx2-qt/MainWindow.cpp
index 78eb8f82a1..17049fa0e2 100644
--- a/pcsx2-qt/MainWindow.cpp
+++ b/pcsx2-qt/MainWindow.cpp
@@ -1346,9 +1346,8 @@ void MainWindow::onGameListEntryContextMenuRequested(const QPoint& point)
 		if (action->isEnabled())
 		{
 			connect(action, &QAction::triggered, [entry]() {
-				SettingsWindow::openGamePropertiesDialog(entry, entry->title,
-					(entry->type != GameList::EntryType::ELF) ? entry->serial : std::string(),
-					entry->crc);
+				SettingsWindow::openGamePropertiesDialog(entry,
+					entry->title, entry->serial, entry->crc, entry->type == GameList::EntryType::ELF);
 			});
 		}
 
@@ -1564,7 +1563,7 @@ void MainWindow::onViewGamePropertiesActionTriggered()
 		if (entry)
 		{
 			SettingsWindow::openGamePropertiesDialog(
-				entry, entry->title, s_current_elf_override.isEmpty() ? entry->serial : std::string(), entry->crc);
+				entry, entry->title, entry->serial, entry->crc, !s_current_elf_override.isEmpty());
 			return;
 		}
 	}
@@ -1580,12 +1579,12 @@ void MainWindow::onViewGamePropertiesActionTriggered()
 	if (s_current_elf_override.isEmpty())
 	{
 		SettingsWindow::openGamePropertiesDialog(
-			nullptr, s_current_title.toStdString(), s_current_disc_serial.toStdString(), s_current_disc_crc);
+			nullptr, s_current_title.toStdString(), s_current_disc_serial.toStdString(), s_current_disc_crc, false);
 	}
 	else
 	{
 		SettingsWindow::openGamePropertiesDialog(
-			nullptr, s_current_title.toStdString(), std::string(), s_current_disc_crc);
+			nullptr, s_current_title.toStdString(), std::string(), s_current_disc_crc, true);
 	}
 }
 
diff --git a/pcsx2-qt/Settings/SettingsWindow.cpp b/pcsx2-qt/Settings/SettingsWindow.cpp
index ddbea6ed27..9db57ebec2 100644
--- a/pcsx2-qt/Settings/SettingsWindow.cpp
+++ b/pcsx2-qt/Settings/SettingsWindow.cpp
@@ -649,9 +649,9 @@ void SettingsWindow::saveAndReloadGameSettings()
 	g_emu_thread->reloadGameSettings();
 }
 
-void SettingsWindow::openGamePropertiesDialog(const GameList::Entry* game, const std::string_view title, std::string serial, u32 disc_crc)
+void SettingsWindow::openGamePropertiesDialog(const GameList::Entry* game, const std::string_view title, std::string serial, u32 disc_crc, bool is_elf)
 {
-	std::string filename = VMManager::GetGameSettingsPath(serial, disc_crc);
+	std::string filename = VMManager::GetGameSettingsPath(!is_elf ? serial : std::string_view(), disc_crc);
 
 	// check for an existing dialog with this filename
 	for (SettingsWindow* dialog : s_open_game_properties_dialogs)
diff --git a/pcsx2-qt/Settings/SettingsWindow.h b/pcsx2-qt/Settings/SettingsWindow.h
index 7425f3bfb5..33031bcfcd 100644
--- a/pcsx2-qt/Settings/SettingsWindow.h
+++ b/pcsx2-qt/Settings/SettingsWindow.h
@@ -45,7 +45,7 @@ public:
 		u32 disc_crc, QString filename = QString());
 	~SettingsWindow();
 
-	static void openGamePropertiesDialog(const GameList::Entry* game, const std::string_view title, std::string serial, u32 disc_crc);
+	static void openGamePropertiesDialog(const GameList::Entry* game, const std::string_view title, std::string serial, u32 disc_crc, bool is_elf);
 	static void closeGamePropertiesDialogs();
 
 	SettingsInterface* getSettingsInterface() const;