Nikon Z8 has a
46.0MP Full frame (35.9 x 23.9 mm ) sized Stacked CMOS sensor and features Expeed 7 processor. On the other hand, Panasonic S1R II has a
44.3MP Full frame (36 x 24 mm ) sized CMOS sensor and features Venus Engine processor.
One other difference between these two cameras that is worth mentioning is that Panasonic S1R II's sensor doesn't have an 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 moiré occurring in certain scenes.
Below you can see the Z8 and S1R II sensor size comparison.
Sensor Size and Resolution Comparison image of Nikon Z8 and Panasonic S1R II Cameras
Nikon Z8 and Panasonic S1R II have almost the same sensor size, so neither of them has any significant advantage over the other in terms of providing control over depth of field when used with the same focal length and aperture.
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Nikon Z8
or the
Panasonic S1R II ,
including hyperfocal distance.