Motor's are there to produce torque. The torque that AC induction motors produce is a product of the ratio of voltage and frequency that they were designed for, +-10%. If the ratio is lower, the motor loses torque with that ratio, but the PEAK torque capability ("break-down torque" or BDT) drops at the SQUARE of that difference. If the ratio increases however, the ability for the motor to increase torque becomes limited by what's called "magnetic saturation" of the steel core and the losses increase very rapidly. So what happens is that the excess energy going into the motor becomes heat, not work, and the motor can burn up.
So for your 460V 60Hz designed motors (motors designed to work on 480V systems are designed as 460V to allow for VD), the design V/Hz ratio is 460/60 = 7.67:1. When you hit them with 480V 50 Hz, that supply ratio is 480/50 = 9.6:1, which means it is 25% HIGHER than what the motor is designed for. The torque will be a little higher, but the HEAT in the motors will be a LOT higher and they will likely fail in short order.
They will ALSO turn at 5/6th speed (83% speed or 17% slower, depending on how you look at it). So the motors will do the same work, but take longer to do it, while at the same time be over heating in the longer process. Imminent failure...
Since the motors will be turning at 83% speed no matter what, you are better off just leaving them alone, no transformer. 400V 50Hz is a V/Hz ratio of 8:1, EXACTLY the same as if the supply was 480V 60Hz. In other words the motors will have full torque and designed V/Hz ratio, just running slower.