95C or F? If it's 95C I do think it's the exact reason why it's so slow and not reliable.
If it was 95 Celsius on top of the unit it would be impossible to touch and the Mac itself would not last long.
3 things to check:
1. Is the fusion drive over 90% full? If it's that full the Mac might not have enough working space and will slow down.
2. Check Activity Monitor's Memory tab to see if you're using a lot of Swap memory - that will have an impact on your drive.
3. I don't know a lot about fusion drives but can they be defragged? Does the First Aid option on Disk Utility help? You could also load the Blackmagic Disk Speed test from the Mac App Store to test the performance of the Fusion Drive.
4. Could the hard drive actually be going faulty? I have had a couple of hard drives go faulty on me but rather than exhibiting the usual click of death and failing altogether one of them simply had extremely poor performance on primary OS and became extremely hot on the outside case too (of the hard drive, not the PC). In the end disk diagnosis suggested that something was up and I RMA'd the disk. If the hard drive is ridiculously hot to touch I'd replace it. Easier said than done in a 2014 Mac mini I'm afraid.
If you can replace the internal hard drive then putting in a SATA SSD would give it a massive quality of life boost.
And if the T7 gives your Mini a new lease of life that's also got to be seen as a sign of a failing hard drive.