Nikon Z5 has a 24.0MP Full frame (35.9 x 23.9 mm ) sized CMOS sensor and features Expeed 6 processor. On the other hand, Panasonic FP7 has a 16.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features Venus Engine IV processor.
Nikon Z5's sensor provides 8MP more than Panasonic FP7'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 Z5 and FP7 sensor size comparison.
As seen above, Nikon Z5 has a 31.0x Larger sensor area than Panasonic FP7. 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.