In MaxSAT with Cardinality Constraint problem (CC-MaxSAT), we are given a CNF-formula $Φ$, and $k \ge 0$, and the goal is to find an assignment $β$ with at most $k$ variables set to true (also called a weight $k$-assignment) such that the number of clauses satisfied by $β$ is maximized. MaxCov can be seen as a special case of CC-MaxSAT, where the formula $Φ$ is monotone, i.e., does not contain any negative literals. CC-MaxSAT and MaxCov are extremely well-studied problems in the approximation algorithms as well as parameterized complexity literature. Our first contribution is that the two problems are equivalent to each other in the context of FPT-Approximation parameterized by $k$ (approximation is in terms of number of clauses satisfied/elements covered). We give a randomized reduction from CC-MaxSAT to MaxCov in time $O(1/ε)^{k} \cdot (m+n)^{O(1)}$ that preserves the approximation guarantee up to a factor of $1-ε$. Furthermore, this reduction also works in the presence of fairness and matroid constraints. Armed with this reduction, we focus on designing FPT-Approximation schemes (FPT-ASes) for MaxCov and its generalizations. Our algorithms are based on a novel combination of a variety of ideas, including a carefully designed probability distribution that exploits sparse coverage functions. These algorithms substantially generalize the results in Jain et al. [SODA 2023] for CC-MaxSAT and MaxCov for $K_{d,d}$-free set systems (i.e., no $d$ sets share $d$ elements), as well as a recent FPT-AS for Matroid-Constrained MaxCov by Sellier [ESA 2023] for frequency-$d$ set systems.