Yes it is.
You are right. Just an RC filter will do it, but you only will get 2-3v DC usable so can amplify it if needed.
I have found with the VFD I used, that you need to detect if there are any PWM pulses, so you can release the stop button line on the VFD to make it safe.
The VFD I used had the option to set a scaling factor, so I did not need an amplifier. I just made it about 1.4v for full speed.
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.