The rules on hiding state, in part (PHB, p. 177):
You can't hide from a creature that can see you clearly, [...]
The description of the wood elf's Mask of the Wild trait says (PHB, p. 24):
You can attempt to hide even when you are only lightly obscured by foliage, heavy rain, falling snow, mist, and other natural phenomena.
Can a wood elf in melee combat with a creature in a wooded area surrounded by light bushes simply use their movement to move 5 feet into an area lightly obscured by foliage, then use their action to hide right in plain sight of his opponent (5 feet away)? Then continue their movement using the cover of the light foliage to escape?
I am looking for a RAW ruling on this; all interpretations must be traced back to specific words in official written rules or official WotC rule clarifications.