I use 4-prong plugs on the machines and a matching socket on the VFD. I have a local control box on a long trailing lead that I can move to the machine I'm using at the time. It has start and stop buttons, a speed control potentiometer and a keyed reversing switch (so I can take the key out to disable reverse when I'm running anything that should not be reversed).
Most of the VFDs I've used in the last few years are pretty insistent that the wiring to the motor is direct: no fuses, contactors, etc, to break the output circuit. It was not always this way and the very first VFDs I used industially had contactors in the output circuits. When these VFDs eventually failed and were replaced by then-current VFDs, we got drive failures very quickly on the new drives, until we rewired them without the contactors on the output side. We are talking plant built in 1995, with VFDs replaced in the early 2000s, so things may have moved on since, but I don't want to risk killing a VFD if I can help it.
I feel the plugged arrangement makes it less likely that the circuit will be broken under power than a switch does.