No, while working with InternetExplorerDriver you shouldn't ignore the browser zoom settings.
As per the Official Documentation of InternetExplorerDriver the Required Configuration
mentions the following about Browser Zoom Level
The browser zoom level must be set to 100% so that the native mouse events can be set to the correct coordinates.
As the browser zoom level is set to 125% hence you see the error. As a solution you must set the browser zoom level back to 100%.
Update
Though you havn't replied/commented to my Answer which was constructed as per your question I can observe from your question update that you are trying to set the property ignore_protected_mode_settings to True. To achieve that you need to use an instance of DesiredCapabilities() Class and configure the WebDriver instance as follows :
from selenium import webdriver
from selenium.webdriver.common.desired_capabilities import DesiredCapabilities
cap = DesiredCapabilities().INTERNETEXPLORER
cap['ignoreZoomSetting'] = True
browser = webdriver.Ie(capabilities=cap, executable_path=r'C:pathoIEDriverServer.exe')
browser.get('http://google.com/')
browser.quit()
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