Polyphase motor with VFD
The motor can be connected for 230 volts per the "Lo Volts" diagram on the label. There are VFDs that accept 220-240 volts, single-phase input and provide 230 volts, full-speed output. Select one of those that has a 1/3 Hp, 1.3 amp output rating or higher. Select one that is rated for constant torque applications. One rated for fans and pumps may not be sufficient.

The motor is probably not the best for operation at full torque below 1/2 or 1/3 of rated speed for more than a few minutes at a time. It may be helpful to have a VFD that can indicate how heavily the motor is loaded.

You should probably download the manual and read it before buying the VFD. If you can not obtain the manual and detailed information about a particular VFD, look for another model. The best manufacturers have extensive product literature and advice about selecting a motor and using the VFD. Study the literature and ask here about details that you don't understand.