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 7030 has a 14.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features TruePic III processor.
Nikon Z50's sensor provides 7MP more than Olympus 7030'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.
Another difference between these two cameras is that Nikon Z50'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 moire occurring in certain scenes.
Below you can see the Z50 and 7030 sensor size comparison.
As seen above, Nikon Z50 has a 13.3x Larger sensor area than Olympus 7030. 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.