The error you are receiving suggests you are having issues with your graphics driver. A common fix for this issue is to go into NVidia Control Panel and reset the global defaults. There may be a setting active or error that is making Unreal unable to function.
Here are the instructions to do so. These instructions come from Nividia and not from Epic Games:
Right-click on your desktop and select Nvidia Control Panel.
Click Manage3D Settings.
Click the Global Settings tab.
In the upper-right corner, click Restore Defaults.