na-adjective, noun
Most often describes something with a sharp cutting edge or point, such as a knife, blade, or instrument. It is more formal and descriptive than everyday 鋭い.
鋭利な刃物で指を切った。
I cut my finger with a sharp blade.
この作業には鋭利な工具を使う。
This task uses sharp tools.
na-adjective, noun
Figurative use for a keen mind, incisive analysis, or acute perception; it tends to sound written or formal, and 鋭い is the more common everyday choice.
彼女の批評は鋭利で、無駄がない。
Her criticism is incisive and has no wasted words.
A Sino-Japanese compound written with 鋭, associated with sharpness or keenness, and 利, associated here with sharpness or effectiveness. This is a component-based explanation of the written form, not a claim about the full historical derivation.