I think there was a 727 fatal accident which started when burning, or at least very hot, wheels/tyres were retracted leading to a major fire.
Why fly around?
Severged hydraulic lines could cause leakage which is why it is SOP to keep the gear extended. The hydraulic fluid flash point it 400 degrees.
Flying and burning fuel or landing ASAP is a judgement call and it not based on just on factor alone.