So long as the rules are followed, i.e. 600V insulation if it's 480V.
All a PTC motor thermistor does is change resistance, really sharply, at a specific temperature. It's not really a good analog signal like an RTD (although people try to use them that way), there is a steep knee point, almost a "Go / No-Go" aspect to it. So the thermistor trip relay is basically just sending a voltage down that line and if it comes back, it's good, but when the resistance goes super high, the feedback voltage drops and the relay trips.