(Abridged) We present a systematic investigation of physical conditions and elemental abundances in four optically thick Lyman-limit systems (LLSs) at $z=0.36-0.6$ discovered within the Cosmic Ultraviolet Baryon Survey (CUBS). CUBS LLSs exhibit multi-component kinematic structure and a complex mix of multiphase gas, with associated metal transitions from multiple ionization states that span several hundred km/s in line-of-sight velocity. Specifically, higher column density components (log N(HI)>16) in all four absorbers comprise dynamically cool gas with $langle T rangle =(2pm1) times10^4,$K and modest non-thermal broadening of $5pm3,$ km/s. The high quality of the QSO absorption spectra allows us to infer the physical conditions of the gas, using a detailed ionization modeling that takes into account the resolved component structures of HI and metal transitions. The range of inferred gas densities indicates that these absorbers consist of spatially compact clouds with a median line-of-sight thickness of $160^{+140}_{-50}$ pc. While obtaining robust metallicity constraints for the low-density, highly ionized phase remains challenging due to the uncertain N(HI), we demonstrate that the cool-phase gas in LLSs has a median metallicity of $mathrm{[alpha/H]_{1/2}}=-0.7^{+0.1}_{-0.2}$, with a 16-84 percentile range of $mathrm{[alpha/H]}=(-1.3,-0.1)$. Furthermore, the wide range of inferred elemental abundance ratios ($mathrm{[C/alpha]}$, $mathrm{[N/alpha]}$, and $mathrm{[Fe/alpha]}$) indicate a diversity of chemical enrichment histories. Combining the absorption data with deep galaxy survey data characterizing the galaxy environment of these absorbers, we discuss the physical connection between star-forming regions in galaxies and diffuse gas associated with optically thick absorption systems in the $z<1$ circumgalactic medium.
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