It would keep the volts/Hz ratio roughly correct, so the motor would produce rated torque but at the higher speed. That is to say, your motor would produce 20% more power at 460V / 60Hz. Whether that increase in power matches how your load changes with a 20% increase in speed is another question.
For example, if your load is a centrifugal pump or fan with no other means of flow control, the 20% increase in speed will result in a load power requirement that is 172% of what it originally required, so your motor will be too small. The devil is in the details.
