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They usually say "neigh", but that's horses that can't talk. I imagine Paladin's steeds usually speak Common.
Well, that's for the noise where they're making the high pitch "neigh" rather than the sound this horse is making (which is the more snorting-exhaling sound)
In 5e, Paladin's steeds can only speak languages that the animal itself could speak (which for a horse, is "nothing") - they understand all the languages the paladin speaks, and can empathically communicate, but they can't speak.
I see. Looks like I misread it.