Hey Joshmo,
It sounds to me like you may need to manually install the drivers.
If you are going to try this I would recommend removing the installed drivers first. If you open control panel (make sure you select "all control panel options"), then open "programs and features", scroll down to "Reloop ASIO Driver 1.15" and uninstall this.
Then try following this link here and downloading and installing the latest drivers for the TM4:
www.reloop.com (click "Downloads", scroll down to drivers)
Once that is done try plugging in the TM4 and running Serato DJ again. If you are still having no luck you might want to try using your controller with another USB port or cable.
Also could you please give me the full specs of your laptop?
Let me know how you go,
Cheers, Sam