The friction from the drive belt entering and leaving the pulleys can warm them up pretty quick. More load on the mower blades means more horsepower handled by the belt and pulleys which adds to the heat load, as will the heat from the spindle bearings under load.
Add it all together and there is a lot of heat involved, and not a whole lot of airflow for cooling.
Add it all together and there is a lot of heat involved, and not a whole lot of airflow for cooling.