Using a VFD to change incoming voltage for a motor

VFD's can modify the input voltage to match the desired motor voltage to a certain degree.

For MS300's make sure that the installation voltage is within the ranges mentioned below while installing the motor:
For 115V models, the range is between 85–132 V.
For 230V models, the range is between 170–264 V.
For 460V models, the range is between 323–528 V.
For 575V models, the range is between 425V–660 V. 

Also for MS300's you can use parameter 01-02 to set the motor voltage:

Important Note:

Using a VFD as a step down (460V to 230V for example) in voltage is not recommended as it will significantly strain/heat your motor. It will work, but your motor should have a higher than normal insulation rating to handle the additional heat.