From $B$'s statement you can quickly figure out that $E$ is a knave, and then the rest trivially follows.
So, for this particular puzzle, no truth-table is needed. Or any formal method, for that matter,
However, other knights and knaves puzzles can be a good less straightforward, and for those, some formal method could be more helpful. In particular, it turns out that Boolean algebra is always good for these Knights and Knaves puzzles! For example, take a look here, where I use boolean algebra to solve a more complicated knights and knaves puzzle.
Let's see what boolean algebra can do with your puzzle.
Use $A$ to represent the claim that $A$ is a knight ... and use $B$, $C$, $D$, and $E$ accordingly.
Now, $A$ is a knight if and only if what $A$ says is true, and so $A$'s statement that '$D$ is a knight, or $E$ is a knave' can be represented as $A \leftrightarrow (D \lor \neg E)$
There are several ways to express $B$'s claim that $B$ and $E$ are different, but probably the most intuitive is to use $\neg (B \leftrightarrow E)$, and so given $B$'s statement we get:
$B \leftrightarrow \neg (B \leftrightarrow E)$
The rest is straightforward:
$C \leftrightarrow (C \lor \neg E)$
$D \leftrightarrow (A \lor E)$
$E \leftrightarrow (\neg B \lor E)$
Let's work with $B \leftrightarrow \neg (B \leftrightarrow E)$ first. Using a few basic equivalence principles regarding the $\leftrightarrow$, we get:
$B \leftrightarrow \neg (B \leftrightarrow E) \Leftrightarrow$
$B \leftrightarrow (B \leftrightarrow \neg E) \Leftrightarrow$
$(B \leftrightarrow B) \leftrightarrow \neg E \Leftrightarrow$
$\top \leftrightarrow \neg E \Leftrightarrow$
$\neg \top \leftrightarrow \neg \neg E \Leftrightarrow$
$\bot \leftrightarrow E \Leftrightarrow$
$\neg E$
Now use $\top \leftrightarrow \neg E \Leftrightarrow$ and $\bot \leftrightarrow E$ to substitute $\top$ and $\bot$ for any instances of $E$ and $\neg E$ respectively, giving us:
$A \leftrightarrow (D \lor \neg E) \Leftrightarrow A \leftrightarrow (D \lor \top) \Leftrightarrow A \leftrightarrow \top \Leftrightarrow A$
$C \leftrightarrow (C \lor \neg E) \Leftrightarrow C \leftrightarrow (C \lor \top) \Leftrightarrow C \leftrightarrow \top \Leftrightarrow C$
Also, since we now also have $A \leftrightarrow \top$:
$D \leftrightarrow (A \lor E) \Leftrightarrow D \leftrightarrow (\top \lor \bot) \Leftrightarrow D \leftrightarrow \top \Leftrightarrow D$
$E \leftrightarrow (\neg B \lor E) \Leftrightarrow \bot \leftrightarrow (\neg B \lor \bot) \Leftrightarrow \bot \leftrightarrow \neg B \Leftrightarrow \top \leftrightarrow B \Leftrightarrow B$
So there you have it: $A,B,C,D$ are all knights, and $E$ is a knave.
OK, so that was still a good number of steps, but once you get used to this method (especially once you get to know how to 'work' the $\leftrightarrow$), you will be able to do the above taking lots of short-cuts, and do things a lot more quickly.
But more importantly, this boolean algebra method really works well for far more complicated knights and knaves puzzles as well. For example, here is a website that has 382 knights and knaves puzzles, with the number of individuals in the puzzles ranging from 2 to 9. And with that many individuals, truth-tables are obviously no longer very practical, but the puzzles can also be too complicated to figure out without any symbolic method.