The simple answer to your question is yes.
The more involved answer is that your spine problem could very well have been an indirect cause, but not a direct cause.
The body is all connected in different ways and one bone, nerve, joint etc can and very often does affect the other.
The fact that you had a slight herniation and bulging disc at the L4/L5 Si would indicate that you where in pain and not walking correctly, standing correctly and moving correctly.
Indirectly that may very well have begun to weaken some of the core muscles and in turn, weaken the quads that help to support the knee movement.
The knee is the joint in the body that takes the most weight and pressure, more than any other joint in the body.
The slightest off movement can disrupt the weight distribution on the knees and in turn cause problems with the knee, including the meniscus.
The best thing you can do to try and prevent any further problems with your knees is to have strong core muscles, strong quad muscles as well.
If the epidural injection relieves your spine pain, I would suggest you talk with your doctor about a round of physical therapy to strengthen the core and quad muscles.
You will be taught the exercises that you will need to do to keep you cores and quads strong to maintain your spine and knees, how to properly move, bend turn and stoop as well.
These exercises should become an automatic part of your daily life.
If the epidural doesn't work, you will no doubt have to talk to your doctor about a possible surgical approach for your spine and then post op have the physical therapy.
Good luck
Fran