(Warning:The installed version of the Nvidia graphics driver has known issues.
Please update the latest driver version.)
This is a false warning. The driver 375.70 is a laptop graphic driver. Not a K4000 desktop.
I have a similar issue, I have absolutely the latest firmware for my graphics card Nvidia Quadro K4200, and UE5 is complaining, and it is totally wrong. How can You disable these frustrating warnings? UE4 doesn’t complain. The recommended driver is not compatible with K4200. This alone is enough reason that I downgrade back to UE4, which is, honestly, even faster. UE5 is feels slow after UE4.
Add the following line into the [Startup] section of Program Files\Epic Games\UE_5.1\Engine\Config\ConsoleVariables.ini the popup should disappear:
r.WarnOfBadDrivers=0