You need a RS-485 board for the Arduino and connect that to a serial port.
The Arduino Leonardo has a spare serial port, also the Arduino Mega 2560 and the MKR boards with SAMD21G processor is also a good choice.
They have three protocols, the FGI-BUS seems the most simple protocol. I have never used Modbus, perhaps there are libraries to use that.
This video shows someone using the Modbus: Inverter Frenic mini interface Atmega16 RS485 Modbus RTU protocol 3 phase motor Speed control - YouTube.
The baudrate can be selected, the Arduino can do all of them.
The actual commands is not easy either. There can be many Frenic Mini stations on the RS-485 bus, you have to select the right device.
There is a command to request the diagnostics. If you start with that one, maybe you understand the rest.
Is there a program for a desktop computer ? Then you could buy a RS-485 to USB module and try that first.
Try to find examples, because it is not easy. I don't know if I could do it.