There’s a simpler solution. Don’t use IE. Current versions of NS and other Mozilla-based browsers have nicer features anyways - tabs, built in popup suppression…Mmmmm.
If you have quicklaunch enabled on the taskbar you can just put a link to IE in there and click on it to open a new browser window that opens to your home page. That’s how I always do it. You can also do this from a desktop icon but that usually requires minimizing the window and you may not wan to do that.
I know you didn’t ask this, but just so you know, Navigator 4.x is a very different browser from Netscape 6.2. In general, something that works in one will not necessarily work in the other.