I have been having the usual +R read problems with my 5045 recorder and seriously was considering changing the drive, however, switching to Ritek 8X +R discs has resolved the problem. The drive writes to and reads these discs perfectly, although it is possible that the drive will continue to deteriorate and not be able to read these after a time, and if that happens, I will go ahead with the changeout.
Just to rule out a dusty laser lens, I would seriously recommend running a cleaning disc in your recorder, particularly if a cleaning disc has never been used since you first got the player. For a start, I would recommend using a wet/dry disc without the fluid as the wet/dry discs usually have wider brushes than just the dry based discs. However, before trying any fluid, check that it does not leave a residue by placing a drop on the shiny surface of an unused disc and leave it to dry to see if any residue is left. A good high alcohol cleaning fluid will leave no residue.
Just be warned that changing the drive in a LVW-5045 is more tricky and tedious than doing so with an LVW-500x series drive as the LVW-5045’s IDE drive (tray & casing) is designed specifically for the LVW-5045. However, the two bottom circuit boards and tracking/laser/spindle mechanism is pretty much the same as in the PC IDE drive. I have successfully changed in an LVW-5045 with a 2nd hand LVW-812s in which I swapped out the two bottom circuit boards, tracking mechanism and laser/spindle assembly and reversed the red/black wires to the tray loading motor as the motor operates in the oposite direction in the LVW-5045 than in the PC IDE drive. As with changing the drive in an LVW-500x series, you will need to flash the replacement drive with region-free (RPC1) firmware. Unfortunately, I’m not sure how well this method works with newer Lite-On IDE drive models.