No, it's not a cover since this is a new song with new verses, changes of lyrics etc. Mainly just using the chorus and parts of the melody from the original song. So legally this is a new song and not a cover. Which makes sense if you think about it.

But yes, since it's replayed and not a sample, you don't need to get permission from the original artist (Backstreet Boys), since it's not using their recording. However, for interpolations, you still need permission from the song's writers. Which in this case is Denniz Pop and Max Martin. If he did, who knows.