Prelude:
Consider a bipartite system of finite dimensions $H=H_A\otimes H_B$ and a state $\rho$ (pure or mixed) on $H$ with reduced density matrices $\rho_1$ and $\rho_2$ on $H_A$ and $H_B$, respectively.
Following Ref. 1, we say that $\rho$ state is uncorrelated if for all joint projective measurements represented by (hermitian) projection operators of the form $P_a \otimes P_b$ the associated joint probability distributions have no correlations, i.e. it holds that
$$\mathcal P_{\rho}(a,b) = \mathrm{Tr}\,\rho\, P_a \otimes P_b = \mathrm{Tr}\,\rho_1 \, P_a\, \mathrm{Tr}\, \rho_2 \, P_b = \mathcal P_{{\rho_1}}(a) \,\mathcal P_{{\rho_2 }}(b) \quad \tag{1} $$
for all hermitian projection operators $P_a, P_b$ on $H_A,H_B$. Define further for two hermitian operators $O_A,O_B$ on $H_A,H_B$ the following quantity:
$$ C_\rho(O_A,O_B):=\mathrm{Tr}\,\rho\,O_A\otimes O_B - \mathrm{Tr}\, \rho_1\, O_A \, \mathrm{Tr}\, \rho_2\, O_B \, \tag{2} \quad .$$
Theorem: The following statements are equivalent:
$(\mathrm i)$ $\rho=\rho_1 \otimes \rho_2$ $(\mathrm{ii})$ $C_\rho(O_A,O_B) = 0$ for all hermitian $O_A, O_B$ on $H_A, H_B$ $(\mathrm{iii})$ $\rho$ is uncorrelated.
Since a pure bipartite state is not entangled if and only if it is a product state, the theorem shows that in this case it holds that $\rho$ is not entangled if and only if it is uncorrelated.
Proof: There are several ways to prove this theorem, see e.g. also Ref. 1. To start, let us first prove the equivalence between $(\mathrm i)$ and $(\mathrm{ii})$.
To this end, note that $(2)$ can be rewritten as
$$C_\rho(O_A,O_B)=\mathrm{Tr}\, \left(\rho-\rho_1\otimes\rho_2 \right) \left(O_A\otimes O_B\right) \tag 3 \quad . $$
The above vanishes for all hermitian $O_A,O_B$ if and only if
$$\mathrm{Tr}\, \left(\rho-\rho_1\otimes\rho_2 \right) O \tag 4 $$
vanishes for all hermitian operators $O$ on $H$; this follows from the fact that every hermitian operator $O$ on $H$ can be written as a linear combination of tensor products of hermitian operators, see e.g. this Math SE post. Vanishing of equation $(4)$ for all hermitian $O$ in turn is equivalent to $\rho-\rho_1\otimes\rho_2=0$.
To conclude the proof, we show the equivalence between $(\mathrm{ii})$ and $(\mathrm{iii})$. To do so, note that if $(2)$ vanishes identically, it must vanish in particular for all hermitian projection operators $O_A=P_a$ and $O_B=P_b$, which yields $(1)$, i.e. $\rho$ is uncorrelated. To prove the converse, just make use of the fact that every hermitian operator admits a spectral representation, which shows that if $(1)$ holds for all (orthogonal) projection operators $P_a$, $P_b$, then $(2)$ vanishes for all hermitian $O_A,O_B$. $\tag*{$\square$}$
References and further reading:
1.Quantum Information Meets Quantum Matter. Bei Zeng, Xie Chen, Duan-Lu Zhou, Xiao-Gang Wen. Springer. Section 1.3.3.
2.When is $\rho_{AB}=\rho_A\otimes \rho_B$
true?