how to recreate this synth sound?

most likely using a run-step sequencer that is modulating the mute, the filter envelope and the attack envelope,

very easy to do in thor in reason,

still easy to do in other daws:

just think of it as routing a rhythmic control signal (switch on/off) to the mute for the channel or even to the vst

- most daws allow you to create automation clips in one form or another

- i.e. you can draw it in as a midi continuous controller in the piano roll or otherwise create an automation clip with that rhythm
 
No offense, bandcoach, but the sound is too pumpy to just be mute automation. It sounds like a very long oscillating pad patch (probably just one note being played, but it might be multiple notes to create the "chord change effect")with what sounds more like a gate. Probably being fed via sidechain from an arpeggiated sound of some sort (no way to tell what sort of sound is feeding the gate via sidechain, and honestly is doesn't matter - gates just look for signal, not tone or pitch or anything). I would say that's how they are doing it. By using the attack and release settings of the gate, you can adjust how "pumpy" this arpeggiated mute effect sounds.
 
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