The only way to know if the roots are okay is to take it out of the pot and see what's going on down there.
Other than not knowing what's going on with the roots, there's nothing wrong with this plant.
The yellow leaf is an older one. The dry sheaths are normal and formed when the growths were still immature and putting out immature leafs. As the cane started developing and swelled up. The immature leaves begin to fall off and the remaining portion dries up and becomes the dry sheath. Occasionally the dry sheath will develop dark spotting because of fungus. But it's usually (not always) harmless. In your case, it's not a big deal.
If you like, you can remove as much of the dry sheaths as possible and nothing bad would happen to your plant.