Thanks for all the replies!
Thing is: This is a crane hoist motor, if a contactor switch burns out and the operator tries to hoist a load it will disengage the brake and the load will fall to the ground. The cranes are normally pre-current protector, so this does not have that. The motor has a cone shaped rotor and stator so it will move axially 2-3mm when energized to disengage the brake.
I have attached a proper schematic.
I have in-fact thought of rolling my own protection circuit, but this will take time as CE/UL are mandatory. This is a time sensitive matter, so if some off-shelf product exists that would be great.
The system is 400v 50hz, the motor is 2/8pole (2speeds).
So, this falls into a category I'm familiar with

- "Functional Safety", laws, regulations, standards, certification, ... and worst case prosecutor, lawyers, judge, liabilities, ...
It's grown to a real big thing in comparison to some decades ago.
Just one advice left: If you aren't a professional safety engineer, stay away. If you can't, ask for assistance from a professional safety engineer or whatever in your country is the equivalent to our German "Berufsgenossenschaft" (workers' compensation board) - basically a thing that work with insurance of the workers, risk management etc.
If you want to do that from scratch or buy something, you'd have to go through quite an assortment of failure analysis and risk management stuff and be able to prove that you've done that according to the applicable standards. It might result in a quite simple result, but with a lot of paperwork behind. If you can't provide the paperwork in case of an accident, you're toast.
As this looks like it's safety relevant, CE/UL is mandatory anyway, but not sufficient.