The elephant in the room are my skeletons in the closet
What he doesn’t want to address is the demons from his past. This line works on several different levels. “The elephant in the room” is a metaphor commonly referring to an uncomfortable situation in which no one wants to address. The metaphor also implies that the situation is obvious and impossible to miss, like an elephant. “skeletons in the closet” are referring to secrets and/or bad memories that you don’t want anyone to know or see. So, in this line, Crooked I is actually saying that the most obvious thing about him to everybody is the bad situation he is in and the scars of the past that he tries to keep covered up.
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