Pipe Leak

Pipe Leak
A joint in the basement of a metal hot water pipe drips onto the 2 x 4s below it and onto the concrete foundation. It has a yellow coating a prior owner applied. I applied two heavy applications of Loctite waterproof epoxy putty to the wet surface of the joint but it still drips. Are there any other solutions besides removing the old joint and installing a new one?

No,
You remove the fitting, drain the water out, and replace the fitting.

Nothing you can try to glue onto the outside of the pipe will last with the pressure there.