Me being a cheapskate I went with a chinese VFD for $120 shipped, but it's an open frame rather than NEMA 4X dust proof. For full time 10/day, 5 day/wk use I'd go with a NEMA 4X enclosure for VFD, but for my hobby work I put air filter over inlets and have VFD mounted to back & one side of grinder and dust hasn't been a problem. OR - mount in a dust proof box.
Later
I watch how dust gets into everything in my garage and I wonder if it isn't just a matter of time before something gets in there and it goes wrong. Although at $120 you could buy 3 of them for the price of 1 that is sealed. I woud be interested in seeing a picture of what you have done. I'm so cheap!