I've been using the control prompts for a very long time now to be alerted to nearby enemies.

It is extremely useful also later on because the enemies only get more dangerous as you progress to new biomes. They have a super hard time getting a jump on you thanks to the prompts, unless you're really focusing on something like precise building or sailing in bad weather.

Deer triggering it is an inconvenience, especially in areas where visibility isn't great (or during fog).