Salvation is by the remission of sin. That's what the verse is saying. You can read it in these many versions of the Bible and see that's clearly what the understanding of the verse is:
https://biblehub.com/luke/1-77.htm
You probably know all this in principle, but I'm sharing this to show that's what
Luke 1:77 is all about. Salvation is the result of having your sins forgiven through faith and confidence in the blood of Christ to forgive them, not by first being regenerated/born again so you can then believe and receive the gospel, as Calvinism teaches.
Close but no cigar- that isn't what the other translations teach - not at all - especially since that isn't the gospel message. Observe the words "knowledge" and "by" (also "through" and "in") in the below verses.
Their point is that one must be forgiven (saved) and born from above first, and only by/from that having occurred, do they receive the knowledge of salvation. The knowledge of the spiritual truth of the gospel is only from salvation. And until that knowledge is given by God, they are unable to understand salvation. It would be a logical impossibility for what you're saying to be correct; that is, for someone to know the requirements you state are necessary (faith and confidence in the blood of Christ) they would have to know them before knowing them. In other words, they would have to already know, what they needed to learn.
[Luk 1:77 NKJV] 77 To give knowledge of salvation to His people
By the remission of their sins,
[Luk 1:77 NKJV] 77 To give knowledge of salvation to His people
By the remission of their sins,
[Luk 1:77 NIV] 77 to give his people the knowledge of salvation
through the forgiveness of their sins,
[Luk 1:77 ESV] 77 to give knowledge of salvation to his people
in the forgiveness of their sins,
[Luk 1:77 CSB] 77 to give his people knowledge of salvation
through the forgiveness of their sins.
[Luk 1:77 NASB20] 77 To give His people [the] knowledge of salvation
By the forgiveness of their sins,
[Luk 1:77 NASB95] 77 To give to His people [the] knowledge of salvation
By the forgiveness of their sins,
[Luk 1:77 LSB] 77 To give to His people [the] knowledge of salvation
By the forgiveness of their sins,
[Luk 1:77 NET] 77 to give his people knowledge of salvation
through the forgiveness of their sins.
[Luk 1:77 RSV] 77 to give knowledge of salvation to his people
in the forgiveness of their sins,
[Luk 1:77 ASV] 77 To give knowledge of salvation unto his people
In the remission of their sins,
[Luk 1:77 YLT] 77 To give knowledge of salvation to His people
In remission of their sins,
There are a few more, but you should be able to get the idea from the above.