It makes no difference whether I start Unreal Engine\4.0\Engine\Binaries\Win64\UE4Editor.exe directly or through the launcher.
I also found that update, but I am hesitant to update because it is not without dangers and it might not fix my problems at all. I guess I’ll try to update it although I had rather have UE4 be fixed because I suspect it’s probably selecting the wrong graphics device to be used for DirectX somewhere.