The VW3A66405 is a Schneider Electric RFI filter rated 46 A at 400/460 V, designed for the Altivar drive family. Its job is to attenuate conducted electromagnetic interference on the line side of the drive — keeping switching noise from the inverter stage off the plant power bus. The 46 A continuous rating matches the input current of a corresponding drive; sizing it to the drive's line current, not the motor FLA, is the rule here.
What the rating means in the panel
46 A at 400/460 V is the filter's rated continuous current at the drive's nominal line voltage. That's the current it can carry without saturating the common-mode choke or overheating the X/Y capacitors. Mount it between the line supply and the drive input — close to the drive, short pigtails, because long wiring between filter and drive re-radiates the noise you just filtered. The 400/460 V range covers 400 V three-phase European and 460 V North American industrial supplies; it's a single part number for both regions.