Nikon 1 S2 has a 14.2MP 1' (13.1 x 8.8 mm ) sized CMOS sensor and features Expeed 4A processor. On the other hand, Olympus PEN-F has a 20.0MP Four Thirds (17.3 x 13 mm ) sized CMOS sensor and features TruePic VII processor.
Olympus PEN-F's sensor provides 5.8MP more than Nikon 1 S2's sensor, which gives a significant advantage in real life. You can print your images larger or crop more freely.
On the other hand, please keep in mind that Max sensor resolution is not the only determinant of resolving power. Factors such as the optical elements, low pass filter, pixel size and sensor technology also affects the final resolution of the captured image.
Below you can see the 1 S2 and PEN-F sensor size comparison.
As seen above, Olympus PEN-F has a 2.0x Larger sensor area than Nikon 1 S2. 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.