Specifically (because Bill is Canadian) NEC article 430.122 requires the CONDUCTORS to be sized at 125% of the rated INPUT current of the VFD But the only thing actually dictating the fuse sizing is the listing info for the drive, and they will typically only give you the MAXIMUM fuse size (and type). You can use smaller if you like, it’s just your risk.
As to sizing the reactor, 110.3 calls for devices to be used as per the mfr instructions and that they’ve suitable for the use. One could argue your proposal either way.
" We are all here on earth to help others; what on earth the others are here for I don't know." -- W. H. Auden