Your 75gr load will have no problem putting a deer down at the ranges you mentioned.

When you said 4-5" high did you mean above the plate or above the dot?
Also, how high above the center of the bore are your sights?

To have the bullet rise 4+ inches from 15 yards to 40 yards sounds strange to me, almost like the sights are taller than average or your speed is a lot faster than 1500fps.

At 1500fps and sights 1" above center sighting in dead on around 14 yards as stated, you should be about 1" high at 50 and back on around 80. If the sights are at 2" high you would be about 3.5" high at 50 and back on around 150. Sight hieght can make a big difference. These are approximate based on the numbers you mentioned put into the PointBlank ballistics program.

Personally I would make my sight adjustments at the longer of the ranges you would be hunting at and not rely on the closer zero except to get you on the target.

I hope this helps is some small way.