I know my VFD is not very good for indexing. I just use an aux input on VFD to make it inch at very low speed and drop an index dog into place to trap the position.
I have output contact on VFD, that closes when actual speed is below 40 RPM, to lockout the above feature. Inching is programmed to be 30 RPM.
As soon as dog drops in it's contacts remove the inching input. Whirrr clunk. !! that's it.
Super X3. 3600rpm. Sheridan 6"x24" Lathe + more. Three ways to fix things: The right way, the other way, and maybe your way, which is possibly a faster wrong way.