Something is wrong. That card should work. It should also be supported for the ray-traced renderer and it looks like it's not.
What driver are you running? You may need to try an older driver or something.
After Effects hasn't used Open GL since... CS 5.5, I think. It's a cinch CC 2017 would have problems with it, in my mind.
Fast draft is also disabled, and it's causing weird slowdowns even after
the comp is completely cached on a simple comp. Not sure, but I would
imagine they're related.
Huh. Running a Windows update (newly available) last night actually fixed
the problem. Go figure. AE is recognizing my GPU again.