Uniaxial pressure applied along an Ru-Ru bond direction induces an elliptical distortion of the largest Fermi surface of Sr$_2$RuO$_4$, eventually causing a Fermi surface topological transition, also known as a Lifshitz transition, into an open Fermi surface. There are various anomalies in low-temperature properties associated with this transition, including maxima in the superconducting critical temperature and in resistivity. In the present paper, we report new measurements, employing new uniaxial stress apparatus and new measurements of the low-temperature elastic moduli, of the strain at which this Lifshitz transition occurs: a longitudinal strain $varepsilon_{xx}$ of $(-0.44pm0.06)cdot10^{-2}$, which corresponds to a B$_{1g}$ strain $varepsilon_{xx} - varepsilon_{yy}$ of $(-0.66pm0.09)cdot10^{-2}$. This is considerably smaller than the strain corresponding to a Lifshitz transition in density functional theory calculations, even if the spin-orbit coupling is taken into account. Using dynamical mean-field theory we show that electronic correlations reduce the critical strain. It turns out that the orbital anisotropy of the local Coulomb interaction on the Ru site is furthermore important to bring this critical strain close to the experimental number, and thus well into the experimentally accessible range of strains.
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