We assume since you have had your plant for four years that this is a recent problem. We can’t see the pot but if it’s been in that pot for more than three years it could be too root bound so that the soil no longer holds the water it once did, or the potting media could be so degraded and the drainage holes so clogged with roots that the soil stays wetter than it did before.Try repotting in a slightly larger pot with fresh potting soil. Do not put gravel in the bottom as that doesn’t actually improve drainage but causes the bottom inch or two of soil to remain sodden. When you are repotting, trim any rotten roots you see. Also make sure that black strap isn’t too tight, constricting the plant.
As a review (since you were growing this plant successfully), Dracaena do best in bright, indirect light. Do not place in hot, direct sun. These plants are prone to root rot if overwatered, especially in lower light. In high light areas be sure you do not let the soil dry out completely. In lower to medium light, you should water Dracaena when soil has dried down 1/2 to 3/4 the depth of the pot. If in very bright light, allow the soil to dry down about 1/2 the depth of the soil depth before watering thoroughly. Make sure drainage occurs from the bottom of the pot with each watering. Use a slow release fertilizer formulated for tropical houseplants according to the fertilizer label recommendations.
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