New fluid won't hurt. It should be changed out every couple years anyway. Regular changes help keep things clean.
The master cylinder has two holes in the reservoir. One feeds fluid to the piston. This is the larger hole. The other hole is smaller and is a pressure relief. If this small hole is plugged, As zorpman said as the brakes drag, heat builds up this heat expands the fluid, air, water, ect. If the pressure relief hole is plugged this fluid expansion presses the pads on the rotor and can lock things up. If this pressure relief hole is plugged, then changing just the fluid might not fix the problem.
I would take the M/C off the bike and Do a tear down, cleaning and inspection. If all the rubber parts are good just reassemble and reinstall.
Might even do the caliper. Won't hurt.
Leo