I assume we are talking about a centrifugal pump.
The maximum pump pressure will also drop with the lower speed.
As the back pressure increases, the flow decreases, and the load on the motor decreases.
You really have to consult the manufacturers performance curves to determine the horsepower required at any combination of flow and dynamic head pressure.
There will be a different curve for every speed;
1200 RPM, 1500 RPM, 1800 RPM, 3000 RPM, 3600 RPM.
When you have calculated the motor size needed and then re-rated it from 50HZ to 60 HZ. If you need a 175 HP motor at 60HZ, the answer is "Sorry, not in the USA."
However, if you need a 132 KW motor, the 200 HP 60 HZ. motor will be a little bit too small after it is re-rated for 50HZ, (167 HP) but given the variable factors involved in pump motor sizing, it will probably work well in all installations except those that demand the maximum performance of the pump. Restricting the flow slightly will raise the dynamic head and reduce the power required.