The answer depends on the manufacturer and installation method used when the siding was first installed.
Caulking cedar lap siding.
The siding expands and contracts with temperature and humidity.
How to caulk the window trim on lap siding.
Width is a matter of taste and proper proportion.
Caulk by its adhesive nature will try to limit this movement leading to widespread failure and cracking in the caulk over time.
Generally we do not recommend caulking butt joints on cedar siding.
It is generally not a good idea to use caulking on wood siding.
Corner boards are applied to the sheathing with siding fitting tightly against the narrow edge of the boards allowing for expansion and an adequate caulking bead.
When you try to restrict either it is at your peril.
When deciding how to use caulk on your siding however it is generally more important to consider where you should not use it.
Think of a wood home as a living thing.
If overused or incorrectly placed siding caulk can cause more damage to your exterior than good.
Whether you are repainting replacing a window or replacing the siding on your house the caulking around the window trim is a very important element.
If i am installing a prefinished product which i do mostly i use a color osi match caulk.
The corner boards and the ends of the siding are nailed to the corner studs which anchors the wood for a maintenance free joint.
It needs to move and breathe.