[Warner306]

How do i remove the OSD text appearing here on the player.

As giulianoprs said, Ctrl + J.

If you are using a 4K display, you are downscaling to 1080p in that image. You are also outputting at 59.94 Hz rather than 23.796 Hz (matching the video frame rate, 23.976 fps).   

Thanks for the tip. How do i go about fixing this? Where do i need to go to fix this? I am sorry I am kind of a noob in this. It be great if you can just post the name of the application and the screenshot of the section where i need to change.  

That is the point of posting a guide. See the section on how to configure the GPU and display for media playback at the end of the RGB output levels section and move on to display modes to get the refresh rates right. I would recommend outputting everything at 8-bits for simplicity until you get everything working correctly. The instructions are detailed enough to get you to the end.

Edit: I looked at your screenshots. It looks like the GPU failed to switch to the correct display mode. Try setting the Nvidia Control Panel to 3840x2160 at 60 Hz and 8-bit RGB. I think you may have the GPU set to 1920x1080. You'll have to trust me that both 8-bits and 10-bits will look identical when using madVR because of the dithering. If you want to switch to 12-bits, you will have to live with a 30 Hz desktop or attempt to get the 12-bit display modes (all refresh rates that are under 30 Hz) to save in the Nvidia Control Panel and be called up when a video is played.