Overlaying Text, Simple Graphics

I was looking into V4L, but wondered if there may be a better, NVIDIA-specific method of doing this. My graphics card is a Quadro P2000/GP107 and my goal is to receive video, provide an overlay, and output the video.

Should I continue with V4L or are there NVIDIA solutions I should consider? I have seen that there are some APIs available but their feature sets all shadow this simple task so it is hard to determine which if any would be best.