Ya, definitely sounds like a thermal issue. I don't know what MSI Afterburner has or if Precision X1 is compatible with your card, but software like that could tell you where the hotspots are on your card and if the thermal paste / pads are doing what they're supposed to.
Youtube tech channels do say that ppl should be redoing the paste / pads every few years, though I myself have never done it and I've used and abused many gaming cards over the years with no thermal issues at all, longest I think being 8 years so far.
Also, if you do decide to redo the pads, make sure to document the before and after temps. Also, be sure the pads are the exact thicknesses needed as that is a very common mistake which causes things to get a lot worse in the end. Also consider using a heat gun / hair dryer against the gpu dye to soften the thermal paste enough to remove the heatsink without ripping the gpu dye apart (as that is a thing that can happen).