Your overcurrent setting should be set no greater than 125% of the motor's FLA. if you are using a thermal overload relay, most TOL relays incorporate a 115% of FLA on their setting ( if your FLA = 45A, setting the TOL at 100% will set the TOL to trip at currents beyond 51.75A (115% of 45).
The instantaneous setting will be dealing with the protection of the motor during short circuits at the motor terminals. You should compute for the available short-circuit current if a short occurs at the motor terminals. By exception 1 in the code, you are allowed to set the Inst trip at no greater than 1300% of FLA (for other than Design B, and no greater than 1700% for Design B motors). Or, you have to prove that your Instantaneous setting works, after an engineering evaluation.