Nikon Z50 has a 21.0MP APS-C (23.5 x 15.7 mm ) sized BSI-CMOS sensor and features Expeed 6 processor. On the other hand, Olympus E-M1 III has a 20.0MP Four Thirds (17.4 x 13 mm ) sized CMOS sensor and features TruePic IX processor.
Another similarity between these two cameras is that both Olympus E-M1 III and Nikon Z50 sensors lack anti-alias (Low-Pass) filters. Removing anti-alias filter increases the sharpness and level of detail but at the same time, it increases the chance of moire occurring in certain scenes.
Below you can see the Z50 and E-M1 III sensor size comparison.
As seen above, Nikon Z50 has a 1.6x Larger sensor area than Olympus E-M1 III. 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.