Switching the DC Side is probably not a good idea. The main issue is switching back on. The relatively large capacitors on KSTEP will cause a huge current draw.
I would think the Motor supply would discharge in a fraction of a second if the motors are energized and drawing a few watts.
20,000uF x 48V =1 watt second
Another option ismight be to externally disable KStep based on EStop (as well as removing AC Power).