Both Olympus E-M10 III and Olympus E-M5 have Four Thirds sized 16.0 MP resolution sensors so sensor size and resolution is not a differentiator between these two cameras.
Below you can see the E-M10 III and E-M5 sensor size comparison.
Sensor Size and Resolution Comparison image of Olympus E-M10 III and Olympus E-M5 Cameras
Olympus E-M10 III and Olympus E-M5 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
Olympus E-M10 III
or the
Olympus E-M5 ,
including hyperfocal distance.