On my lathe the e-stop turns off the drive and raises an E-stop condition on the controller. This halt execution but the drives remain energised and the reference is kept.

My point was that you have used the same wiring colours for mains live and neutral and supply positive and negative (Ground). You might use brown and blue for live and neutral; or other colours for pos and neg. Then it would be entirely clear.

But generally a good approach though perhaps overkill!