Both Fujifilm X-T1 IR and Olympus TG-4 have 16.0 MP resolution sensors but Fujifilm X-T1 IR's sensor is APS-C (23.6 x 15.6 mm ) and Olympus TG-4's sensor is (1/2. ).
Since Fujifilm X-T1 IR's has a larger sensor area with the same resolution, this means that it also has a larger pixel area hence better light collecting capacity for a given aperture compared to Olympus TG-4.
Another difference between these two cameras is that Fujifilm X-T1 IR's sensor lacks anti-alias (Low-Pass) filter. Removing anti-alias filter increases the sharpness and level of detail but at the same time, it increases the chance of moiré occurring in certain scenes.
Below you can see the X-T1 IR and TG-4 sensor size comparison.
As seen above, Fujifilm X-T1 IR has a infx Larger sensor area than Olympus TG-4. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.