Since the Music Modernization Law, it is no longer necessary to obtain a license to distribute a cover to music platforms.
You can distribute a cover as long as your version is faithful to the original in terms of lyrics, melody, and structure. You can take liberties with style and arrangement, but if you stray too far from the original version, your song will no longer be considered a cover and a license will be necessary.
We also recommend adding the original song's ISWC code (International Standard Musical Work Code) whenever you have it. It uniquely identifies the underlying composition and helps make sure the songwriter is paid the royalties they're owed.
▎ Please note that remixes or mash-ups are not considered covers and require a separate license. More info here.