Penn is investigating a report of a woman who begged a traveler to help someone, then went away too quickly for the traveler to keep up.
Quest Location
After you start the quest Potential Princess Sightings!, you can talk to Penn at Outskirt Stable, -1416, 1296, 0032, to start this quest.
Investigate the Beckoning Woman
Go south to the three-way intersection and talk to the woman standing next to the tree. After she departs, go southeast along the road and keep going until you see the woman again. Talk to her and she will show you some fallen debris at the top of the cliff. The easiest way to get there is to use Hyrule Field Skyview Tower and glide from there. Once there, talk to Ralera. Then glide to the cliff that Ralera showed you. Talk to Ralera. Defeat the three Yiga Footsoldiers that attack, and the quest will be complete.
Quest Reward
Penn's reward depends on how many stories you have investigated. See Potential Princess Sightings for details.