I don't know how well Drive will integrate with CQ 5.4. Drive uses WebDAV to interface to CQ, the CQ 5.4 documentation for the WebDAV interface does not mention drive support (https://dev.day.com/docs/en/cq/5-4/dam/using_cq5_dam_increativeproduction.html#Uploading a Digital Asset Using WebDAV). In addition 5.4 still uses workflows to transfer images back and forth between /var/dam and /content/dam, so the correct mounting URL isn't what is configured in Drive.
If you look at the documentation for 5.5 and beyond (https://dev.day.com/docs/en/cq/current/dam/using_cq5_dam_increativeproduction.html#Connecting DAM to Desktop Applications with Adobe Drive) you can see Drive is called out, and it supports a lot of features that are based on 5.5 and beyond.
You should be able to use Drive as tool to do a standard WebDAV mount (as described in the 5.4 documentation) but all you will get is a mounted drive, I don't think you'll get all additional functionality that Drive provides in the newer versions of AEM