QGC and Mission Planner Simultaneously

Am I able to connect my quadcopter to Mission Planner on my Laptop while also being able to connect to the QGC on my iPad simultaneously to track telemetry on the drone (via ELRS)?

Yes. Use MAVProxy as a splitter:
mavproxy.py --master=(what COM you useing) --baudrate 115200 --out=udp:127.0.0.1:14550 --out=udp:0.0.0.0:14551
Mission Planner
→ Connect via UDP
→ Port 14550
QGC
→ Connect via UDP
→ Listening port 14551

See:
MAVProxy: https://ardupilot.org/mavproxy/⁠�

No need for additional software. Both Mission Planner and QGC can forward MavLink. Pick one to do the forwarding and connect the other to it.

Here is the relevant Mission Planner documentation.

Appreciate it!