The List of Possibilities is huge and this will depend on the current weakness of the creatures to elemental damage from the weapon. So to name a few possibilities of use. Note that some creatures can be weak to two types of elements but generally one of them outweighs the other being something like 105% weakness versus 120% weakness. There are no Sanguine Set (Knight's) Weapons with an Ice element, so it won't have a Hunt list on it.
Clubs:
Sanguine Cudgel (One Hand) - 46 Death
Sanguine Bludgeon (Two Handed) - 50 Earth
Swords:
Sanguine Blade (One Handed) - 46 Fire
Sanguine Razor (Two Handed) - 50 Energy
Axes:
Sanguine Hatchet (One Handed) - 46 Fire
Sanguine Battleaxe (Two Handed) - 50 Death
Creatures weak to the Earth element (I will mention medium and high level respawns only):
* Otherworld (Gold Token): Breach Brood, Dread Intruder, Sparkion, Reality Reaver
* Dwelling of the Forgotten (Warzone 09): Cave Chimera, Tremendous Tyrant, Varnished Diremaw
* Secret Library (Energy Section): Energetic Book, Energuardian Of Tales
* Furious Crater (Soul War): Cloak Of Terror, Courage Leech
* Darklight Core (Rotten Blood): Darklight Matter, Darklight Source, Darklight Striker, Walking Pillar
* Putrefactory (Rotten Blood): Meandering Mushroom, Oozing Carcass, Rotten Man-Maggot, Sopping Carcass
Creatures weak to the Fire element (I'll mention medium and high level respawns only):
* Antrum of the Fallen (Warzone 07): Afflicted Strider, Blemished Spawn
* Secret Library (Ice Section): Animated Feather, Icecold Book, Squid Warden
* Ebb and Flow (Soul War): Bony Sea Devil, Turbulent Elemental
* Rotten Wasteland (Soul War): Branchy Crawler, Rotten Golem
* Darklight Core (Rotten Blood): Darklight Matter, Darklight Source, Darklight Striker
* Putrefactory (Rotten Blood): Meandering Mushroom, Oozing Carcass, Rotten Man-Maggot, Sopping Carcass
Creatures weak to the Energy element (I will mention medium and high level respawns only):
* Ancient Ancestorial Grounds (Gray Island): Deathling Scout, Deathling Spellsinger
* Secret Library (Earth Section): Cursed Book, Ink Blob
* Rotten Wasteland (Soul War): Branchy Crawler, Rotten Golem
* Gloom Pillars (Rotten Blood): Converter, Darklight Construct, Darklight Emitter, Wandering Pillar
* Jaded Roots (Rotten Blood): Bloated Man-Maggot, Mycobiontic Beetle, Sopping Corpus
Creatures weak to the Death element (I'll mention medium and high level respawns only):
* Kilmaresh (Various locations): Lamassu, Crypt Warden, Sphinx, Feral Sphinx
* Secret Library (Energy Section): Brain Squid, Knowledge Elemental
* Furious Crater (Soul War): Cloak Of Terror, Courage Leech
* Rotten Wasteland (Soul War): Branchy Crawler, Rotten Golem
* Gloom Pillars (Rotten Blood): Converter, Darklight Construct, Darklight Emitter, Wandering Pillar
Generally speaking Rotten Blood's Hunt areas are receptive to TWO types of elemental damage. And some Holy (Paladin) is very effective and other places the creatures are very resistant. The Death element seems to have better effectiveness only in Gloom Pillars. Taking into account that Two-Handed weapons have higher damage than One-Handed ones, we arrive at this result:
The Sanguine Battleaxe (Death Axe - Two Handed) is the least effective weapon within Rotten Blood. The best ones are the Sanguine Bludgeon (Earth Club - Two Handed) and the Sanguine Razor (Energy Sword - Two Handed).
Now from a Tibian world perspective the Earth element is not the best setting for most locations.
For example the creatures from Cobra Bastion are immune to earth and neutral and all other elements, so in that case the Sanguine Razor (Energy Sword - Two Handed) must be currently the Best Elementary Damage Item (Knight) in Tibia. The Ice element is effective on Jaded Roots but there are no Sanguine (Knight) Weapons with this element and the equivalents are Soul Set weapons.
Also if the item is a Grand Sanguine it will have even better abilities.
Information sources for this research are Tibia Wiki and Tibia Fandom pages.