They can, though all drives can fail in the same way. A controller board can die suddenly for any reason. Early SSDs had more of these kinds of failures than HDDs of the time but they got much better quickly.
To check its health use something to check the SMART data. I like HWinfo
for this. The sensors window should have a section for each drive with a "Drive Remaining Life" field. I would worry if this is below 100% by much at all. My 2TB Samsung 960 Pro purchased three years ago and used as my main game drive since still reports 100%.