Short answer: No. If it’s producing hot water and not leaking - no.
Long answer: If it is leaking water, I would recommend replacement.
If it is not leaking water and not producing hot water, then I would recommend “further evaluation of the water heater system by a plumber,” and state the reason(s) why.
If there are safety hazards, installation defects, or components of the water heater system that are not properly installed by modern standards and requirements, I would recommend “correction and further evaluation by a plumber,” and state the reason(s) why.
On old tanks covered with an additional insulation wrap, I use language such as “additional insulation wrap is an inspection restriction,” “can’t determine age,” “the tank is not accessible as defined in my report,” “there are signs of previous active water leaking from the tank evidenced by the rusty water marks and streaks… may leak water after this inspection… as owner about performance history…a plumber may recommend immediate replacement,” “could fail tomorrow”… etc.
I made an on-line course about inspecting hot water tanks. It doesn’t go over just the basics - it’s advanced. Check it out. Tell me what you think. http://www.nachi.tv/ppv