Casio EX-Z450 has a 12.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor . On the other hand, Olympus VR-340 has a 16.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor .
Below you can see the EX-Z450 and VR-340 sensor size comparison.
Casio EX-Z450 and Olympus VR-340 have sensor sizes so they will provide same level of control over the depth of field when used with same focal length and aperture. On the other hand, since Casio EX-Z450 has 32% larger pixel area compared to Olympus VR-340, it has potential to collect more light on pixel level hence have less noise in low light / High ISO images.