Aside from STO being inappropriate to supplant LO/TO procedures, I think it might be important to understand what STO is INTENDED for.
In any VFD, it is not a good idea to constantly remove and apply power to the VFD, because all VFDs must have what's called a "pre-charge circuit" that prevents the DC bus capacitors from damaging themselves and/or the rectifier when they are first energized. Capacitors try to charge themselves up instantly, and do so at the available fault current level. That's what can damage things in the drive. So a pre-charge circuit places a resistance in series with the caps for the first second or so, then bypasses that resistor once the caps are fully charged. Excessive cycling of power stresses the resistor and bypass circuit and if one of them fails, the drive is toast shortly thereafter. So what does that have to do with STO?
STO is intended to replace a line side contactor that would have been used to ensure a machine cannot move while an operator is doing a routine task, like changing a bit or blade, adjusting a belt, removing or inserting a product, etc. ROUTINE tasks done within the confines of other safety systems such as guards and key locks, not repairs of replacements of the machine itself. It does not remove all potential sources of energy as LO/TO would do, it merely allows a routine task to take place without stressing the VFD components.