I have constant pain/pressure around the L4/L5-L5/S1 disc area, diagnosed MRI report says: Disc bulging with posterior vertebral body endplate osteoph?

Pain may not be- -from the oeteophyte, because you don't say what level that finding is at or how many levels are involved. The back pain I would assume front your age could very well be from degenerative disk disease of the lumbar spine. A bulging disk is another sign of degenerative disease. There are many treatments available so see your PCP for eval & referrals if needed.
Common Problem. These days there are a wide-variety of treatment modalities to chose from that are effective. I assume you are currently being evaluated by orthopedics and/or neurology.