Isn't Dracena an indoor house plant? I'm not sure it should receive any direct sunlight, so the leaves are probably sun burnt.

Maybe sunburn if not acclimated to the outdoors but don’t go by the soil surface being dry, you need to know how damp the soil is deep down (use a wooden dowel or chop stick). Wet feet can cause that with dracs.

tj

If the old growth is mostly brown and dying back while a new shoot is emerging from the base, I’d focus on saving the new growth rather than trying to revive the old stem. Cutting away the dead material is a good idea, but I’d wait to see if any part of the stem is still green before cutting it all the way to soil level. The yellowish new growth could be stress-related from light, watering, or nutrient issues. Also check the roots if you haven't repotted in a while root-bound plants or poor drainage can cause similar symptoms. If the stem is still healthy enough, taking a few cuttings as a backup isn't a bad idea either.

From the photo, it looks like your Dracaena is stressed rather than completely lost. The browning leaf tips and yellowing could be from a combination of outdoor sun exposure, inconsistent moisture, or root stress. Dracaenas generally prefer bright indirect light, and a few hours of strong afternoon sun can sometimes cause leaf scorch, especially if the plant was accustomed to indoor conditions.

The good news is that the new shoot at the base is a positive sign that the root system is still alive and trying to recover. I wouldn't cut the entire plant down to soil level just yet. Instead, I'd remove the dead and badly damaged leaves, inspect the roots if possible, and make sure the pot has good drainage. The pot size looks adequate for now.

If the top continues to decline, you can absolutely propagate the cane by taking stem cuttings-Dracaenas root quite readily from sections of stem. You may find this dracaena fragrans care guide helpful as well https://botanapp.com/plant/dracaena-fragrans

Personally, I'd give the plant a few more weeks to see how the new basal growth develops before making any drastic cuts. The new shoot may end up becoming the healthiest part of the plant.