Hey Mathan,
I would say that this is expected behaviour. For any device you have, you can only have one driver associated with it, this is because the hardware needs to know what software to use. Since the USBCV uses one set of drivers, and National Instruments software uses another set, there will be a conflict in Device Manager.
From my opinion the best way to get around this would to be implement some LV code to test your device, since that is all that the USBCV seems to be doing for you. I'm not familiar with these devices or the utility, but the manual should give you more details on what operations it's performing and from that you can mimic it in LV, CVI or some other programming language, your choice
Hope this helps
Can W
Can Wong