1605-1615 Lady Francis Fairfax by Marcus Gheeraerts the Younger (York Art Gallery - York UK)
This is probably Frances Sheffield with the following article in thepeerage, "Frances Sheffield1 F, #479051, b. 1586, d. 1645
Frances Sheffield was born in 1586.1 She married Philip Fairfax, son of Sir William Fairfax and Mabel Curwen. She died in 1645.
Her married name became Fairfax.
Child of Frances Sheffield and Philip Fairfax
William Fairfax1 b. 1609, d. 1644."
From bbc.co; lightness added by gogm.
Lady Frances' dress has few slashes, but they are well placed for best effect in this Gheeraerts portrait.
Keywords: Gheeraerts - Marcus the Younger, Frances Fairfax, Fairfax family, British, straight coiffure, cap, lace, vloating ruff, scoop neckline, modesty piece, bertha, tabbed sleeves, slashed sleeves, slashing