Not playing a tape could be the moisture sensor, though if I recall the Panasonic models would show DEW on the display when this happened.
I think it's more likely the capacitors in the power supply. As waltchan has suggested, these era Panasonics are troublesome. I have a PV-4760 that had the power supply caps leak as I powered it on to test it. Upon recapping I learned that one of the heads was worn out - another common problem on these.
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