Since the motor is rated for a higher voltage than available it would be legal for this app. However, it will not develope it's nominal HP at this voltage and will overwork its self if something is not done to limit the load on the motor. It is probably hydralic so if chain/sprocket coupled, change the sprocket ratio to gear down the motor. There may also be a way to reset the bypass pressure so the motor dosn't work as hard. The other thing to do is resize the overloads to protect the motor. You can make this work but be prepared for the system to be slower or at least to trip out fairly often.
Don