There's no real world down side to overspec'ing the VFD except for the additional cost.
If you anticipate repurposing it on a different motor or machine in future then it's entirely sensible.
You mention not worrying about star delta. If your 3 phase motor is 415/240 dual voltage then it would be better to change it to delta and have access to full power / full speed. Unless you have a particular reason not to.
Either way, and especially if you keep the motor wired in star, you will need to programme the VFD correctly to make this work. Some VFD's don't come with much of a manual at all. Others don't make it very obvious how to setup non standard configurations. I expect that you will in effect be setting the VFD up as if the motor is rated 240V, 29Hz, and full load current approx equal to 2/3 of the FLC at 415V and don't forget to define the number of poles. Once these settings are locked in, you need to set the motor maximum speed which I'd expect to be on another parameter to go past 29Hz and achieve full speed but at reduced torque.
This is similar in some respects to setting up a 4 pole motor which gives full power at 1400rpm and then defining a higher maximum frequency of 100Hz so that you can spin it up to 2800 rpm (the speed of a 2 pole) but at reduced torque.
If this all makes sense, great. If not, get some help. Frying a new VFD is a waste of money and frying yourself is a bigger waste