Hmm. Interesting question, and well worth thinking about!
I think one of the strengths of having a group of characters engaged in finding the right answer is that you can play this both ways. You can have some of them find true hints, and you can have one or two of them hit on the wrong explanation, and that ongoing conflict might actually fuel the search for the answer.
Honestly, I think both things work in different situations and for different reasons! Like, using the red herring approach can build up to a shocking reveal later when it turns out that whoah, your character was entirely wrong about this!
On the other hand, dropping true hints gives your story a solid direction to go in. It might be a political conspiracy! Well, let's go somewhere and learn more about that conspiracy, then!
I do a lot of dropping true hints in Grassblades - mostly because one of the main actors keeping secrets from the readers is Masahiro himself! He knows stuff, and has experienced stuff, that he is keeping very close to his chest for various reasons, and I drop bits and pieces of that into the story and turn it into kind of a Hansel and Gretel breadcrumb trail through the story.
I throw in the odd red herring as well, but only when I feel like it serves a purpose. The pace of my story is already decompressed, and throwing in too many red herrings would slow it to a crawl as they chase the wrong leads.