Overview
The horse can be found on a small island seen in the screenshots below.
Reward:
Can borrow horses from 
Hyrule Ranch
Adventure Log Text
Hyrule Ranch is missing a horse. You were asked to bring her back. Apparently, she normally gallops around west of the ranch.
You brought the missing horse back to the ranch! As a reward, the ranch will loan out horses to you for free.
Screenshot
Interactive Map Locations
1. Hyrule Map - Echoes of Wisdom
X: 5660 Y: 8016
Given by the old man in the ranch. The horse can be found on the small island to the south-west.
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