Both Olympus SZ-16 iHS and Olympus SH-1 have 16.0 MP resolution sensors but Olympus SZ-16 iHS's sensor is 1/2.3-inch (6.17 x 4.55 mm ) and Olympus SH-1's sensor is 1/2.3' (6.17 x 4.55 mm ).
Since Olympus SH-1's has a larger sensor area with the same resolution, this means that it also has a larger pixel area hence better light collecting capacity for a given aperture compared to Olympus SZ-16 iHS.
Below you can see the SZ-16 iHS and SH-1 sensor size comparison.
Olympus SZ-16 iHS and Olympus SH-1 have the same sensor sizes so they will provide same level of control over the depth of field when used with same focal length and aperture.