I would insist on someone inspecting the type of damage on the old motor. If it's related to reflected wave damage to the insulation, I would replace that load reactor with a DV/DT filter. However if the new motor is actually a good quality "Inverter Duty" motor (meaning it meets NEMA MG-1 Part 31 specs), then it should be fine up to a certain distance (Yaskawa should be able to tell you what that distance is).
Side note: I have seen even Inverter Duty motors (good Reliance ones) suffer from reflected wave spike damage because the Input and Output conductors were in the same cable tray right next to each other with no shielding, so make sure you don't have anything like that going on.
As to why the DC bus OV trip? When you get damage to the motor windings it's usually a race to see which trip happens first. GF trip in VFDs is done by summing the 3 output phase currents and looking for a non-zero value exceeding some preset level (sometimes up to 30%), so often times something else will trip first.