Panasonic S5 has a 24.0MP Full frame
(35.6 x 23.8 mm ) sized CMOS sensor and features Venus Engine processor. On the other hand, Sony A7R IV has a 61.0MP Full frame
(35.8 x 23.8 mm ) sized BSI-CMOS sensor and features Bionz X processor.
Sony A7R IV's sensor provides 37MP more than Panasonic S5'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 similarity between these two cameras is that both Sony A7R IV and Panasonic S5 sensors lack anti-alias (Low-Pass) filters. 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 S5 and A7R IV sensor size comparison.
Panasonic S5 and Sony A7R IV 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.
DxOMark Sensor Scores
DxOMark is a benchmark that scientifically assesses image quality of camera sensors. It scores camera sensors for color depth (DXO Portrait), dynamic range (DXO Landscape) and low-light sensitivity (DXO Sports), and also gives them an overall score. Panasonic S5 and Sony A7R IV sensors have been tested by DxO and the results show that A7R IV has a better overall score of 99, 5 points higher compared to S5's score of 94.
Sony A7R IV