Can anyone advise me what the deal is here?
I have a new computer so I can't imagine that the card is not up to date. I have had issues with Graphics cards in the past so I do not want to do the wrong thing here.
Any info would be great, thanks
That is just warning you that one (obsolete) effect will not be accelerated by your card. You can tick the "never again" option so that box doesn't bother you any more.
The effect it's talking about is the ray-traced renderer. The ray-traced renderer was a way to create 3d geometry in After Effects. It is considered obsolete by the After Effects team. (See here: http://motionworks.net/after-effects-3d-future/) I wouldn't worry about it at all.