it looks like it has a serious fungal infection going by the white bracts visible. cant tell which one it is though.
the bottom photo just shows lichen which isn't a problem.

It's a goner - by the time bracket fungus starts growing on the outside, the heartwood is already full of fungus. I'd have it removed as soon as possible, and think about what else to plant. It might have happened because,from memory of your original pictures, there was such an elbow or deep bend in the trunk, meaning this part of the trunk was constantly wet in damp weather, causing rot to set in.

I just tried to check the original pictures, but they're gone - I vaguely recall it was originally planted too close to the fence, which would explain why it developed such a bend in the trunk as it aged, in its attempts to reach a brighter situation. If you replant with the same shrub, or any shrub or tree, actually, it should not be planted within 18 inches of a fence or wall - 2 feet away for a large shrub is much better.