To understand why, we need to look at the term's murky origins and how language evolves.
As with any potentially dated term, the respectful choice is simply to use one of the many clear, non-stereotyped alternatives. Language changes; this is one change that costs very little and shows awareness of history.
The short answer is: increasingly, yes, many people consider it problematic, though it has not been universally rejected.
It refers to a period of unseasonably warm, dry weather occurring in late autumn (typically October or November) after the first frost.
Is it as overtly hostile as a racial slur? No. But is it a ? For many Indigenous people and a growing number of others, yes —because it historically frames Native Americans as deceptive, unreliable, or dangerous. Using it today is not malicious for most people, but it relies on a colonial-era stereotype that many find disrespectful.