Panasonic TS2 has a 14.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features Venus Engine HD II processor. On the other hand, Canon SX710 HS has a 20.0MP 1/2.3' (6.17 x 4.55 mm ) sized BSI-CMOS sensor and features DIGIC 6 processor.
Canon SX710 HS's sensor provides 6MP more than Panasonic TS2'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 TS2 and SX710 HS sensor size comparison.
Panasonic TS2 and Canon SX710 HS 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.