You can set it to coast to a stop, Pr 31 (00.031) for one thing.
By increasing the current loop gain, the drive will do a better job of regulating. Set 04.013 to 40-60 (from default of 20), and decrease the Integral, 04.014 from 40 to 20-10... This sometimes is enough to get the high inertia load under control.
Longer decel time, Pr 4 is called for when trying to decel a high inertia load. But, if you really want to get control, add a Dynamic Brake Resistor, and set Pr 30 to Fast to dump the energy.
The energy has to go somewhere, that's the issue. When you wind up a large inertial load, there is a lot of stored energy, and if there is little friction, there's nowhere for the energy to go, other than into the drive. It can only absorb so much, until it goes into bus-regulation mode, or trips on over-voltage. The Resistor can dump the excess into heat.