Here's one way it could happen.
If the wet E-Stop was cycling the bypass on and off repeatedly and quickly, plus you have what's called a "3 contactor bypass" where there is a line isolation contactor ahead of the VFD, you can end up in a situation where the pre-charge current limiting resistor of the drive is not in the circuit and when the drive is powered on again, the capacitor charging inrush current is so high that it clears a fuse (if you are lucky).
If you don't know this about VFDs, all of them have some means of avoiding the charging current of the caps from doing damage, collectively this is referred to as a "pre-charge" circuit regardless of how it is done. Capacitors charge instantly so when first energized, the are pulling current at the available fault current rate for an instant. This can be so fast and high that it damages the diodes on the drive and/or clears the fuses. So the pre-charge circuit limits the charging current for the first second when a VFD is energized by the line. Usually this is done with a little resistor (current limiting resistor) in series with the caps on the DC side of the rectifier. But that resistor can't be in the circuit all the time or it will burn out, so a second after you first power up a drive, a relay or small contactor closes to shunt (short) around that resistor. If you have a line contactor in front of the drive and that contactor chatters, that little shunt contact doesn't have time to respond and the caps pull the full current, which might blow the diodes or hopefully, clear the fuse first.
If your drive works now, you got lucky.
