I always preferred to mow my fescue lawn at 4inches, while most experts will tell you to never mow fescue less than 3 1/2inches. On my old computer, I have 100's of links to provide specific information. If you can find the old HTPA website, (it may not exsist anymore), I provided most of the links in their link library, and I am sure some of those links are probably no longer active.
Without going back and reviewing some of the information stored on my old computer, I can remember one specific site referenceing cutting height of fescue. cutting fescue less than 2 inches, means you are cutting into the crown of the plant and removing most of food produceing grass blades. Without enought grass blades the plant cant perform photosynthesis to feed the plant. The end result is insufficient root area to provide proper mineral and moisture uptake to substane the plant. This is the main reason you see brown spots during drought conditions. Short grass also exposes more of the soil to sunlite and speeds up the evaporation of ground moisture, making a bad situation even worse. tall grass shades the soil and slows evaporation of soil moisture, provides more leaf area for food production and a overall healther lawn. taller fesuce also means more shade onwedd type plants, helping to slow and provent weed growth. All that without the need for added fertilizer to promote a green flush looking lawn. I like the taller cut simply because I think it looks better when properly mowed. And no it doesnt take any longer to maintain a 4in cutting height than it does a 2 inch cutting height, contrary to some popular opinions. A taller lawn is also easier to walk on barefoot, which I do often enough to warrant having an opinion on that subject.