Q.Pony tail palm
I have a very large pony tail palm that appears to be suffering from root rot. I live in SW Florida and the palm is growing in my back yard. A section of the base is soft and I can pierce the bark with my finger. Can the tree be saved. I’ve attached a photo.

This is an amazing specimen!
Unfortunately if the base has become soft and is compromised; it is likely too late to save it.
The visible lichen on the base along with the base condition show that the moisture levels are likely too high.