Which skin condition consists of red papules and macules with a hypopigmented rim and is associated with the palms and soles?

Erythema multiforme minor is characterized by the presence of red papules and macules that often have a distinctive hypopigmented rim, which can be particularly noticeable on the palms and soles. This condition typically presents with a target-like appearance, where the central red papule is surrounded by a pale zone and an outer red ring. The involvement of the palms and soles is a notable feature and helps in differentiating it from other skin conditions.

Understanding this condition's presentation is crucial for recognizing it in a clinical setting, especially since it can be triggered by infections, medications, or other factors. While urticaria primarily presents as wheals and is not specifically associated with the palms and soles, exanthematous rashes usually involve widespread involvement that lacks the characteristic appearance of Erythema multiforme. Similarly, contact dermatitis tends to produce localized red, itchy lesions often accompanied by vesicles or weeping, which do not have the hypopigmented rim characteristic of Erythema multiforme. Thus, the features of Erythema multiforme minor are distinctly recognized and aligned with the question's description.