The 24LC16B is a 16 kb (2 kB) EEPROM.
Unless it is explicitly described by the seller as containing the required code for your MIDI keyboard, then any of them which you buy will either be blank, or contain other code (not uncommon for EEPROMs bought from the grey market), or perhaps a test pattern; none of which will work in your device if your device requires it to have specific contents.
It's too small to hold program code for an MCU of reasonable complexity, but it could be factory-programmed by your keyboard's manufacturer with something special, meaning that one bought from elsewhere wouldn't work as a replacement. Or you might be lucky, and find that it does work. It all depends on your MIDI keyboard design, and how it uses that EEPROM.
As you commented:
Based on my Flir thermal camera it pin point directly at the IC chip very hot at touch
That is clearly abnormal, and might indeed mean that the EEPROM is non-functional. However as commented by Chris Stratton, there is the possibility that the cause of that damage to the EEPROM is a fault elsewhere in the keyboard.