Normal shuffle and discarding face down is easier to explain and faster to do. And it can be done where the table is not available or is not big enough. Starting with a 44-card deck and discarding 5 down to 39 should make it more similar to the original 40-card version, but 39 is not divisible neither by 5 nor by 4, so one player will always be one card short.
Being one card short might not actually be a problem in practice if the game is played across several rounds. It may even add some interest to the game by creating an asymmetry.
edit: People can be pretty bad at shuffling though. Overhand shuffles are awful and info would be available. But I think this game naturally sorts the cards pretty well by the end of gameplay, so even the method proposed before me would be vulnerable to info from bad shuffles.
A bit trusting!