Both of these are pretty standard control "protocols". Crudely generalizing, the tradeoff is that 4-20mA can consume more power (strictly control circuit power) than 0-10V, but in return has greater immunity to electrical noise and a definite indication of broken control circuits. 4-20mA current control is the gold standard in a lot of industry segments.
The VFD is going to sense current when configured for 4-20mA, and sense voltage when configured for 0-10V. To have a knob provide either type of control signal, you will need both a DC power source (a 9V battery can work) and a potentiometer, and probably another resistor to match your power source voltage to the control signal limits.
To choose a potentiometer and limit resistor, you need to know Ohm's law relating voltage, current and resistance. Let's say you pick a 12V power source. For 4mA current, you put 3K ohms in series with the power source and the VFD control terminals. For 20mA current, you put 600 ohms in series. So, you could pick a 600 ohm limit resistor and a 0-2400 ohm variable resistor, putting both in series. (I am not even going to attempt to draw a schematic with ASCII art.) This scheme will draw up to 240mW for a 20mA signal, 48mW for a 4mA signal.
For 0-10V, let's pick a 5000 ohm potentiometer. You'd need to put it in series with a 1000 ohm limit resistor, put both across the 12V power source, and take the output voltage from the sliding contact on the potentiometer. This scheme will draw 24mW, more or less continuously.
Obviously, there are more complex ways to skin this cat. But all you need is a knob, not a signal generator.