IE10 functions even when the fallback video driver is being used, which certainly doesn't provide hardware acceleration. Are you really sure DirectX or the graphics driver is the cause of not being able to install IE10?

Also, DirectX isn't a separately updatable component, at least in recent versions of Windows. It gets updated as part of regular Windows updates and service packs. (Some software still uses the DirectX redistributable as part of its installer, but in recent versions of Windows, this only installs an optional part of the DirectX 9 interface library.)

Outdated graphics drivers can't provide features introduced with a newer DirectX version, but they shouldn't prevent you from installing IE10.