The fact that this S.M.A.R.T. error keeps appearing won't damage your motherboard or other components in the computer:
However, the best thing to do at this point would be to simply buy a new drive and install it now, as hard drives last many years and aren't particularly expensive. You're not going to save much money by running this drive into the ground.
These days, you can get a decent SSD for $90 or less:
If you are adamant that you want to keep using this failing HDD, the second best option would be to simply disable S.M.A.R.T. monitoring in your motherboard's BIOS, as all it's doing at this point is interrupting the boot process and forcing you to press F1 every time you turn on your PC.
You already know the drive will fail soon, so S.M.A.R.T. isn't going to be useful for you until you install a new drive.
All it's doing at this point is telling you something that you already know!