The battery is worn out and also most likely has a hardware fault if it is powering off at 40-50% charge level.
You already know the battery is at 74% of its original Design Capacity which means that the battery condition should be showing as "Service Recommended". Theoretically since I've been finding this is not always the case these days....Apple must have made some changes or has broken something since any thing below 80% ...definitely below 77% should be "Service Recommended".
You can try running the Apple Diagnostics to see if any hardware issues are detected. However, the diagnostics usually have also not been properly reporting battery issues when the FCC is below 80% of its Design Capacity these days.
You can try an SMC Reset to see if that makes any difference. Doubtful though since I suspect the battery has a bad cell.