Create a new folder for V4, M4 and their morphs.  Choose the DAZ Studio install option instead of the Poser option.  It installs the same files it just avoids the Poser.exe search.  Point the installer to newly created folder.  Point Poser to the folder and you should be good to go.  I feel it is best to have DAZ's Gen 4 figures in their own folder as it is sometimes necessary to rerun the initialize bat files.