Here's the deal: To be able to use the Quick Launch toolbar with Windows NT 4.0, you must have the Windows Desktop Update ("WDU") installed and have the Web Integrated Desktop component of the WDU installed and enabled. Adding / installing the WDU is done from Internet Explorer 4.0, 4.01, or 4.01 Service Pack 1. The WDU is not available if you have 1) removed IE 4.0x without having the WDU installed and then installed IE 5.x or 2) performed a fresh install of IE 5.x, like on a new machine.
If you need to have the Quick Launch toolbar, then what you must do is uninstall IE 5.01 and activate IE 4.x WDU and then upgrade back to IE 5.x. During the IE 5.x uninstall process, you will be presented with an option to "Restore the previous Windows configuration". Choose "OK".
The following Knowledge Base articles describe this whole process in sufficient detail.
http://support.microsoft.com/support/kb/articles/Q217/3/44.ASP
http://support.microsoft.com/support/kb/articles/Q165/6/95.ASP
http://support.microsoft.com/support/kb/articles/Q171/2/06.ASP
Hope it'll hepl you