A hot power supply cord means unreasonably high heat generation somewhere, but not necessarily in the PSU it feeds.
IF the heat is all on one location there is a wire or contact failure developing. By far the most common form of this is a very warm end connector - either the plug into the wall, or the connector that pushes into the back of the PSU. In either of those cases, there are two possibilities. One is that one of the blade contacts is dirty or loose and making poor contact. If it's simply dirty you may be able to fix by cleaning it off with emery cloth. But if it's a poor contact inside a socket that has lost its springiness, if can be hard to rejuvenate that. You might have to replace the socket or the cord that has the female connector molded onto the end. The other possible cause of a hot end connector is that the wire inside the connector is damaged and making a poor connection internally to the blade or other contact. For this you either can replace the fitting on the cord end or replace the whole cord.
If there is an isolated hot spot somewhere along the cord length but not at the end connector, there likely is a damaged wire inside in that area. You choices are to cut out the suspect area and re-splice the two pieces back together, or replace the whole cord.
In OP's case, which should be unusual, the entire cord is hot. This indicates a cord that is severely undersized for its load - the wires inside are too small. The only solution will be to replace with a cord rated for the load. In this case, OP has a 575 W PSU so, allowing for efficiency, it could pull up to 750 Wats from the wall, which is around 6.5 amps. The cord should be rated for at least 800 Watts or 10 amps to give a good safety margin.
It is unlikely that OP's problem is a faulty PSU. For that to produce an overloaded supply cord the PSU would have to be pulling MUCH more power that designed, and that is likely to have produced many other malfunction symptoms. The more plausible explanation is that the PSU came with an unsuitable supply cord that needs replacement.