I do not think it will work for multiple reasons. Reactors act like a choke or filter and are inline, they are not a transformer across the lines.
There is a high inrush current with transformers that will probably trip the VFD
A transformer is not designed at the higher frequencies that make up the PWM signal of VFDs, nor operate above or below its designed frequency, it may saturate and overheat.
A transformer will change the phase, would not work with a vector drive. Not sure if it would work at a fixed V/Hz, one would probably be better off with something like a Phase Perfect Converter.
Unclear as to how the VFD would see the transformer load and affect phase detection circuity.
I would check with the VFD manufacturer as to recommendations, and/or the machine manufacturer you want to run off of it.
If you need a higher voltage, I usually see a step-up transformer before the VFD and the VFD is run at a higher voltage. When using an input transformer, there is a significant inrush current, so the power input end needs careful consideration.