If the most interesting thing about a racial option is the numerical adjustment to ability scores, the developers need to send it back to the drawing board. Dwarves are more than just wads of hit points, elves are more than just "quick," etc.
I'd go even farther than what
@Charlaquin said: I'd be fine with scrapping the ability score adjustments altogether, and replacing them with proficiencies, expertise, advantage on certain checks, unique abilities, etc. Then, elves aren't quick because they have +2 to Dex; the are quick because they have Advantage on initiative, are automatically proficient with longbows, and move an extra 5 feet per round. Dwarves wouldn't be hardy because of a +2 to Con; they are hardy because they get an extra hit point per level, have Advantage on Constitution saves, and heal maximum whenever they spend Hit Dice. Or whatever, get creative and be as generous/stingy as you need. I'm not a game designer.
The goal is to make each race fundamentally different in ways that matter. Players would choose to play an elf because of the abilities that only elves get. If you're relying on ability score adjustments to accomplish that task, you are setting yourself up for disappointment because all races can boost all stats to the same cap. On a long enough timeline, that unique distinction fades to nothing.
If you want to add flat numerical bonuses, there are better ways to do that than "they're all just born this way."