Check that the current rating on the overload matches the motor full load curent on the motor rating plate. The overloads have a working current range that is adjustable, but setting to “maximum” may still trip if the overload maximum is less than the motor. The overload should be adjusted to the motor current & no more.
If that is OK, I would use a clamp-on current meter to check the current that the motor is drawing. If it is at or over the motor rating plate FLC, I would remove the input drive belt & check again. If still over current, have the motor checked out. If it is now under, how tight is the spindle drive line when rotated by hand ?
You don’t say what speed range you have the machine set to, but if it is one of the higher ranges it may be that your spindle front bearing is set a bit tight. I run my S7 from an older inverter – my front bearing is set close enough that it won’t start at the top couple of speeds (inverter trips) unless it has been “warmed up” for a while at a lower speed.
HTH
Nigel B.