Off hand, I wouldn't use an induction motor on what could be a highly dynamic CNC application. I think it would work fine on your bandsaw application, but 4kW size might still be in the servo range. You could cost it both ways. Interlinking axes is more a function of the controller. Remember that an induction motor is probably going to have a much larger rotor compared to a
servo motor, so it will have higher inertia. That may help or hurt you depending on the application. Also, encoder options are limited, and tend to be expensive, for induction motors. That is why I say servo is probably better for 4kW size.