If it was planted last season, my in ground trees get no water, the first season I pamper them to get them to grow strong, give a bit of fertilizer, but I plant them with manure and blood and bone meal to get them started. Once they are past the first year they won't get anything, so I can get tougher growth and tastier figs in my opinion.
Try to scratch lower down on the trunk and see if it green under the bark, it could just be freeze damage as well, in which case you can cut a couple inches below the damaged portion and leave only healthy wood.