chore: bump election pallet version

[dandanlen]

Should be the same version as on the 1.7 release branch.

[codecov]

Codecov Report

All modified and coverable lines are covered by tests ✅

Project coverage is 72%. Comparing base (7beca6d) to head (688ab87).
Report is 1 commits behind head on main.

Additional details and impacted files

@@          Coverage Diff           @@
##            main   #5435    +/-   ##
======================================
- Coverage     72%     72%    -0%     
======================================
  Files        490     490            
  Lines      86916   86792   -124     
  Branches   86916   86792   -124     
======================================
- Hits       62396   62217   -179     
- Misses     21587   21641    +54     
- Partials    2933    2934     +1     

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