The KBAC drives aren't readily available over here, which tends to limit the options. There are dustproof VFDs available, but they tend to cost around twice as much as a "normal" VFD of similar capacity.
I've done the thing with mounting IP20 (NEMA 1) drives in IP66 (NEMA 4) enclosures. It works, it saves me money and it gives me a lot of versatility.
It's a bit of a pain to do. The enclosure is big, because it's got to shed the heat from the outside surfaces of the enclosure by convection (being in the UK makes it easy for me; I can safely assume a maximum ambient temperature of 70 degF)
You need the enclosure itself, but you also need the controls to be accessible, which rules out using the keypad on the drive itself and adds expense.
I've fitted a 3-phase sealed socket to the VFD enclosure and built a remote control box on a trailing lead. This setup lets me plug in different machines and move the control box to whichever machine I am using.
This one is a 2HP drive in a 12" x 12" x 8" enclosure. The enclosure, switches, potentiometer and drive were free and came from plant I decommissioned. The drive wasn't originally in the enclosure, but it fits and the window in the enclosure door lets the user see the display, though it probably reduces the cooling. The whole setup stands me in perhaps £20 (around $30) which covers the enclosure for the remote controls and the 3-phase socket, with a matching plug for the motor.
This one is a 3HP drive in a 16" x 12" x 8" enclosure. I bought the enclosure for this one, as well as the plug and socket, but the drive and switches were again free. I have probably £60-80 in this one ($100-120?).
I really wouldn't recommend doing it this way to anyone who needs to buy in all the parts, unless it really is impractical to use a sealed drive. Most of the guys I know with VFDs on grinders have sealed drives. All of the guys who asked my opinion first, have sealed drives.