I think it is very unlikely that the Nazgul feared Frodo wielding the One Ring. When Frodo put on the ring at Weathertop, he entered their world of shadows, and then they where for the first time able to see him, which made him a easier catch. And, the ring actually wanted the Nazgul to kill Frodo and seize the ring. I dont think they reconned Frodos power enough to command them, in fact i dont think enyone wielding the ring could command the ringwraiths accept sauron. They where somehow under the other nine rings dominion.
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