It is fairly common to use 600V CTs on shielded wire - provided the shields are not stripped back and are terminated.
But I still wouldn't with a hand-held 600V clamp-on. Motor connection boxes are too tight. The risk is low, but the consequences of a FUBAB are very high.
Before I did measurements with covers open, I'd first look at the motor starter cabinet. The overloads may well be running off of CTs, or current sensors. If so, get the schematic, and see where to tap into this circuit.
If not that, then I'd look at using a split, flexible CT in the motor starter cabinet - on the leads to the motor. Get one rated for the intended use. I won't say what rating is required, I can't see your installation.
Plenty of vendors make good equipment just for these jobs. Get the right equipment.
(FUBAB = Fouled up beyond all belief)
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