It does not turn red at 148kts (this VNE speed was incorrect) but it does at 200kts (still not the correct speed), you can make some tests. It should turn red at 173kts that is the VNE speed.
So I would say the issue you’ve reported is linked to the existing one Piper PA28-236 Dakota: structural failure far below VNE. They’ve made some change to the VNE but it is not correct yet.
Moved to User Support Hub since issue reported here is linked to the one mentioned in above link.