I just started playing the demo of Octopath Traveler and am exploring in various danger zones. I found that I can sprint by holding B but when I do, the minimap turns red. Does that mean I more susceptible to attack ? While sprinting I am covering more ground, but I ended finding more enemies. This matters as I am usually sprinting to my objectives and if I didn't want to attack (low health, low inventory of items, etc) or if I am strictly farming experience - this impacts game-play.
The in-game tutorial states that holding down the B button will make your character dash, and increase the encounter rate as well.
Many fans have tried to work out how it exactly works, but it seems the common consensus is that it does indeed increase the encounter rate somewhat. The red minimap is indicative of the increased danger.