Mac Mini 2012 overheating, and is it time to consider a new one?

It isn't the hardware that presents an issue with 32-bit software, but macOS. Mojave will soon be replaced by Catalina which will not run 32-bit software. We cannot tell you when or if there will be a 2019 Mini.

As for overheating:

Use Activity Monitor to Kill Runaway Processes

     Use Activity Monitor on your Mac

     Runaway applications can shorten battery runtime, affect performance, and increase heat and fan activity.

Should the above not prove helpful, then make an appointment at the Apple Genius Bar for service. If you need to find an Apple Store - Find a Store - Apple.

A Troubleshooting Procedure that may Fix Problems with macOS El Capitan or Later

You should try each, one at a time, then test to see if the problem is fixed before going on to the next.

    Be sure to backup your files before proceeding if possible.

1. Shutdown the computer, wait 30 seconds, restart the computer.
2. Disconnect all third-party peripherals.
3. Resetting your Mac's PRAM and NVRAM
4. Reset the System Management Controller (SMC)
5. Reset your Startup Disk and Sound preferences.
6. Start the computer in Safe Mode. Test in safe mode to see if the problem persists, then restart normally.
7. Use Apple Hardware Test to see if there is any hardware malfunction.
8. Repair the disk by booting from the Recovery HD. Immediately after the chime hold down the Command and R keys until the Utility Menu appears. Choose Disk Utility and click on the Continue button. Select the indented (usually, Macintosh HD) volume entry from the side list.  Click on the First Aid button in the toolbar. Wait for the Done button to appear. Quit Disk Utility and return to the Utility Menu. Restart the computer from the Apple Menu.
9. Repair permissions on the Home folder: Resolve issues caused by changing the permissions of items in your home folder.
10. Create a New User Account Open Users & Groups preferences. Click on the lock icon and enter your Admin password when prompted. On the left under Current User click on the Add [+] button under Login Options. Setup a new Admin user account. Upon completion log out of your current account then log into the new account. If your problems cease, then consider switching to the new account and transferring your files to it - Transferring files from one User Account to another.
11. Download and install the OS X El Capitan 10.11.6 Combo Update or 10.12.6 Combo Update or Download macOS High Sierra 10.13.6 Combo Update or Get MacOS Mojave now from the Mac App Store as needed.
12. Reinstall OS X by booting from the Recovery HD using the Command and R keys. When the Utility Menu appears select Reinstall OS X then click on the Continue button.