You are not doing anything wrong, it is simply not possible with OpenEdge.
OpenEdge Help, Define Property Statement:
Override: Specifies that this instance property overrides an abstract property inherited from an ABL or .NET abstract class.
The compiler message you listed confirms it.
But you could create a C# ClassLibrary and subclass the ConfigurationElement therein. By referencing your ClassLibrary DLL in the OpenEdge assemblies.xml file you can access your class like any other .Net framework type.