Nikon D4 has a 16.0MP Full frame (36 x 23.9 mm ) sized CMOS sensor and features Expeed 3 processor. On the other hand, Nikon D5 has a 21.0MP Full frame (35.8 x 23.9 mm ) sized CMOS sensor and features Expeed 5 processor.
Nikon D5's sensor provides 5MP more than Nikon D4'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 D4 and D5 sensor size comparison.
Nikon D4 and Nikon D5 have almost the same sensor size so none of them has any significant advantage over other in providing control over depth of field when used with same focal length and aperture.
DxOMark Sensor Scores
Both Nikon D4 and Nikon D5 sensors have been tested by DxoMark. DxoMark scores camera sensors for color depth (DXO Portrait), dynamic range (DXO Landscape) and low-light sensitivity (DXO Sports), and also gives them an overall score. Of the two cameras that we are comparing, D4 has scored 89, 1 points higher than D5.