Olympus E-M10 IV has a 20.0MP Four Thirds (17.4 x 13 mm ) sized CMOS sensor and features TruePic VIII processor. On the other hand, Panasonic GF1 has a 12.0MP Four Thirds (17.3 x 13 mm ) sized CMOS sensor and features Venus Engine HD processor.
Olympus E-M10 IV's sensor provides 8MP more than Panasonic GF1'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 E-M10 IV and GF1 sensor size comparison.
Sensor Size and Resolution Comparison image of Olympus E-M10 IV and Panasonic GF1 Cameras
Olympus E-M10 IV and Panasonic GF1 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.