I suppose it's possible. Depends on how long the problem has been there. If one track isn't turning at all (or doesn't seem to be turning as fast as it should) I would think that the friction plates are either wore out, oily (slipping) or "stuck open".
I had a thirty that had a lot of oil in one side. It didn't want to turn to the right. The steering clutches would slip with the full power to the one side. I rinsed the clutches out with kerosene (recommended by Caterpillar manual). This basically cured the problem for the most part. After 74 years I'm sure that new clutch disks would also have been a big help.