"Redo" how?
If you mean just paying him less money for this season, then no. He's on the fifth year of a first-round rookie contract, which was fully guaranteed when the Panthers decided before his fourth season to keep him for the fifth.
His whole contract is fully guaranteed salary, so there isn't much they could do other than giving him an extension and using that to lower the 2023 cap hit, but then there would be huge cap implications (in addition to the $11.5M in dead 2023 money and $23M in dead 2024 money from trading Metcalf) down the road. And even if there were a way to just pay him less for this season, there's no way he'd accept that. Why should he? He's got his $16M+ fully guaranteed this season, and there's the risk he gets injured this season and hurts or completely eliminates his future earning potential.
Further, Burns is a good edge rusher in the final year of a rookie contract. The negotiation for a contract would start at what it would cost a team to keep Burns for two consecutive years on the franchise tag. That's about $21.6M and $26M for a DE, so roughly $23.75M per year for two years, probably less if he's considered a linebacker and not a DE, but a team taking that negotiating tactic could easily see negotiations halted, because Burns knows he'll be in demand if he just plays out his fifth-year deal and gets to the open market. Burns is going to want a longer extension too.
I would not only be shocked if a deal like trading Metcalf for Burns happened, but also very disappointed. I am hopeful that the Seahawks front office has learned from its previous attempts at big "splash" moves to bring in big-name players. I don't expect them to throw away so much cap space to let a productive player work really cheap for another team so they can bring in a player as an expensive several-game rental, plus have to get rid of other players to make the cap space or negotiate a multi-year deal that would make Burns by far the highest-paid player on the defense and the highest-paid or second-highest-paid player on the team and give him gigantic cap hits in 2024 and subsequent years.