Are you talking about an ASUS monitor?
Are the nvidia drivers for your VGA or Mobo?
You will find ASUS drivers on their website.
Your computer will still function but maybe your display will be defaulted to a generic Windows driver and therefore not so good.
Is OSD (OnScreenDisplay?) some sort of software for simply adjusting your monitor? If so, you don't need it if your are installing the latest VGA drivers as screen adjustment can be carried out using the nvidia facility.
In a nutshell, you need the latest drivers for your monitor, mobo and VGA for best trouble-free performance. If OSD is just a display utility it is superfluous.