Can I test the ESR of a capacitor in circuit when in parallel or series and still get the correct reading?
If you check on google images for ESR charts it will tell you even 10/20 years ago whenever those charts were made ESR for a 470uF 10V should be around 0.2 ohm or less, so yes that reading is quite high.
If there are other capacitors or resistances in parallel it can throw off the reading, remove them from circuit and double check. Check capacitance as well.
If the electrolytic capacitor has brown gunk leaking out, a raised or domed top, a blown bung or any discoloration below it on the PCB it's venting and needs to be replaced. For SMD caps sometimes you will see faded printing which points to leaking electrolyte.