5V will be pulled directly from 5V supply

The chip you are concerned about getting warm I believe is your 3.3V regulator.

I would ensure your transistor has some resistors to ensure you are not drawing more current than required from the 3.3V supply

If that is all good then I will remind you of a few things

1. The board you have is a clone (I use them… but they can be dubious)
2. The ESP8266 requires a certain amount of current to run which will cause the chip in question to generate heat all on its own
3. The chip in question appears to be an LDO which will mean going from 5v to 3.3v is done by turning the excess voltage into heat.

I couldn’t find an exact Datasheet but I am led to believe that the chip is a clone of this www.sunrom.com/download/670.pdf

Which I found on this store page sunrom.com/…/rt9193-33gb-rt9193-33pb-sot23-5-300m…

And here is a wiki entry incase you are curious about Voltage Regulators and the such en.wikipedia.org/wiki/Low-dropout_regulator