Adjust the positioning offset of the Elementor anchor element/links

function.php

add_action( 'wp_footer', function() {
	if ( ! defined( 'ELEMENTOR_VERSION' ) ) {
		return;
	}
	?>
	<script>
		jQuery( function( $ ) {
			// Add space for Elementor Menu Anchor link
			$( window ).on( 'elementor/frontend/init', function() {
				elementorFrontend.hooks.addFilter( 'frontend/handlers/menu_anchor/scroll_top_distance', function( scrollTop ) {
					return scrollTop - 120;
				} );
			} );
		} );
	</script>
	<?php
} );