You normally use the ON/OFF button for VFD input power, the E-Stop in this application typically does not interrupt power to the VFD, but is used to interrupt any connection from the common (GND) to any of the forward/reverse/run inputs. So a NC connection, which goes open when you push the E-Stop. You also need to be aware that in this VFD that it only has 2-wire control, so if you hit the E-Stop while a run command is engaged, and then release the E-Stop, the motor will restart and is very dangerous. If you want to kill power to the VFD then wire both hots to the E-Stop (NC switch blocks) and then to VFD input power, when releasing the E-Stop, P07 = 1 should prevent a run command from restarting the VFD on power up. With 3-Wire control which uses momentary buttons, any interruption of the inputs common would result in the VFD not restarting, one can also use a power latching relay.
In some cases if an input can be programmed for an emergency stop which would use a NO -> NC to activate the input when the E-Stop is pressed, but not this VFD. By keeping power to the VFD electronic braking is maintained, if power is disconnected it may stop slower or go into a free run mode. In industrial application, there is a usually a monitored loop to the E-Stop, dual redundancy, and the output drive section of the VFD is disabled (STO, Safe Torque Off).