The hissing was caused by the overpressure caused by the heat which has triggered the internal valve relief. With the valve open the fluid needed to oil the bearings was never cooled and liquiefied so it hasn't done its job so the bearing was damaged and has now seized. Try to tap it gently with a hammer , it might unseize itself.
If this doesn't helps then indeed the compressor is gone, it will have to be replaced
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