Depends on the game, the proportions/details of environments in said game, whether I'm inside/outside a village/town/city, and the context. The following games are ones the worlds of which I find immersive and meaningful to move through.
In games like Red Dead 2:
I'll walk (trot, if on a horse) whenever I'm in a town, even if I've been there a bunch. because those environments are highly detailed both in terms of visual details, and because there's a lot of geometry I could get caught on/trip over. Same with the NPCs that I could bump into and potentially hurt/start a fight with by carelessly running into them. The proportions of those towns/cities don't make walking feel boring because I'm seeing about as much per second as I would in real life, and any points of interest are a reasonable walking-distance away at any given moment. The default move speed is also a walk, so I can comfortably just hold the joystick forward while walking, rather than holding it halfway for long periods (e.g. Super Mario 64).
Outside of cities/towns, I'm more likely to jog if I'm trying to get somewhere or just moving point-to-point, but there's often enough reason to want to walk for me to do so (easier to notice/avoid alerting dangerous wildlife/NPCs, coming across points of interest, etc.).
In games like BotW:
I rarely walk because the holding the joystick all the way forward breaks into a jog. Even with counting that jog as "walking," what often makes this particular game world engaging is traversal—climbing/gliding and managing stamina. The towns are relatively small and less detailed, with little dangers related to just barging through them. Generally, the only movement that requires consideration and thought is when climbing up cliff faces, getting across rivers, gliding over ravines, etc. I'm usually only moving slowly when thinking about how to move forward. The massive size of the map, even relative to the player movement abilities, makes it reasonable to move quickly most of the time.
The sense of travel isn't minimised by going as fast as possible because of the world's scale, the amount of points of interest in that map, and all the considerations that must be taken when moving through it.
In both of the above, I found myself occasionally just admiring the environments, though for different reasons in each.