If that's the case then yes it is likely the problem. You can use USB BIOS Flashback to update UEFI. NOTE: Download the correct build. Your board will not have .CAP UEFI conversion so you should download the UEFI version that supports your CPU - depending upon the CPU I think it's build 11**. You can check that by looking at the CPU support section on the ASUS support page for the R4E. I repeat, do not use a more recent build than the one you need.
Update the UEFI using USB BIOS flashback, let the board POST and then you can complete an update to a .CAP UEFI at a later date. Also, when you perform updates to UEFI, when the board powers up after the flash, it may sit for a while as if it's not POSTing. Just leave it alone and let it do its thing. It may power cycle a few times on its own accord, then eventually POST and tell you it is updating the iROG ROMs. Let it do that without interrupting it.