I do my best to make it possible for the players to make an informed decision, although they might have to work a bit to get the information.YMMV and all, but I find the DM who likes "true" sandbox settings usually have no problem with mounds of dead PCs and the occasional TPK restart.
What decision they make (e.g. challenge the ogre or not) is up to them - they'll have to live or die with the consequences.
The ogre isn't going to take an extended vacation until they get to the "right" level and I'm not going to make the ogre fight easier, but on the other hand if they do manage to defeat it then its treasure won't mysteriously reduce "to avoid unbalancing the campaign" and its long-lost twin brother won't turn up later on "because the plot required the ogre still to be alive".
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