Hi Hoops,
Before STO arrived to the market as embedded drive safety functionality, engineers implemented safety using safety contactor at the way I described previously.
As I wrote, in order to avoid any damage, if your motor stopped and MC_Power is off, no current towards the motor and the contactor can cut safely the motor power loop.
Also, even cutting during operation is fine and the motor will freely run until stopped, and that's fine for emergency.
If you really need Safe Speed 1 or Safe Speed 2 safety functionality, you should use drives that provide that safety functionality.