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White noise of dissipationless microwave radio frequency superconducting quantum interference device (RF-SQUID) multiplexers has been experimentally studied to evaluate their readout performance for transition edge sensor (TES) photon counters ranging from near infrared to gamma ray. The characterization has been carried out at 4K, first to avoid the low-frequency fluctuations present at around 0.1 K, and second, for a feasibility study of readout operation at 4K for extended applications. To increase the resonant Q at 4K and maintain low noise SQUID operation, multiplexer chips consisting of niobium nitride (NbN)-based coplanar-waveguide resonators and niobium (Nb)-based RF-SQUIDs have been developed. This hybrid multiplexer exhibited 1×104⩽Q⩽2×104 and the square root of spectral density of current noise referred to the SQUID input √SI=31 pA/×Hz. The former and the latter are factor-of-five and seven improvements from our previous results on Nb-based resonators, respectively. Two-directional readout on the complex plane of the transmission component of scattering matrix S21 enables us to distinguish the flux noise from noise originating from other sources, such as the cryogenic high electron mobility transistor (HEMT) amplifier. Systematic noise measurements with various microwave readout powers PMR make it possible to distinguish the contribution of noise sources within the system as follows: (1) The achieved √SI is dominated by the Nyquist noise from a resistor at 4K in parallel to the SQUID input coil which is present to prevent microwave leakage to the TES. (2) The next dominant source is either the HEMT-amplifier noise (for small values of PMR) or the quantization noise due to the resolution of 300-K electronics (for large values of PMR). By a decrease of these noise levels to a degree that is achievable by current technology, we predict that the microwave RF-SQUID multiplexer can exhibit √SI⩽5 pA/√Hz, i.e., close to √SI of state-of-the-art DC-SQUID-based multiplexers. [ABSTRACT FROM AUTHOR]