I have both 4 and 6 bulb 48" T5HO's. With 4 new T5HO bulbs and sprouts of those varieties, I'd probably start at about 15" and adjust from there. You can probably get closer, perhaps a good bit closer, but how close depends on your bulbs, the types and age of the peppers, air circulation, ambient temperatures, and all sorts of stuff. I like to start more distant and move in, versus the other way around and risking dehydration of sprouts or burning. Like NECM says, if you see stretch, particularity gangly bending stems versus firm straight ones, dial it in closer. if different peppers are behaving differently, I keep the lights positioned for the ones that want the least light and elevate the containers of the ones that want more to get them closer.
Right now I'm running a 6 bulb T5HO with the 2 inside bulbs removed in a tent in a 24" x 48" tent containing perhaps 6 or 7 different species of peppers and many varieties. Most are sprouts or just getting past that stage. The fixture is at about 18" from the tops, except in the case of a couple older peppers, but many of them are elevated because they want to be closer, while certain others don't like that - I have several varieties that prefer a mixed shade environment to direct sun.