What it means An output phase to the motor is open.
Likely causes
Loose lead
Open winding
Output contactor
Checks, in order
Check terminals and winding resistance
Source
Source (reworded, not copied): Yaskawa, GA500 Drive Maintenance & Troubleshooting Manual, TOEPYAIGA5001A, Faults. Official manual (PDF). Fault numbers and names can differ between firmware versions.