Ok, found the reason: Your configuration does not comply to level 4.1. It needs at least level 5. Why is that?
When not selecting any preset h264_nvenc takes "medium" as default.
h264_nvenc AVOptions:
-preset <int> E..V.... Set the encoding preset (from 0 to 11) (default medium)
default E..V....
slow E..V.... hq 2 passes
medium E..V.... hq 1 pass
fast E..V.... hp 1 pass
hp E..V....
hq E..V....
bd E..V....
ll E..V.... low latency
llhq E..V.... low latency hq
llhp E..V.... low latency hp
lossless E..V....
losslesshp E..V....
Alles anzeigen
A preset is a combination of (all) other single available options. So in fact if you don't specify any options, the encoder still does that internally without letting you know it. And this options by default require level 5.
I admit this is a bit confusing but I can not change this. This is happening in the NVIDIA driver software. But I changed the text of the error message: