Both Sony RX100 VII and Olympus E-M1 II have 20.0 MP resolution sensors but Sony RX100 VII's sensor is 1" (13.2 x 8.8 mm ) and Olympus E-M1 II's sensor is Four Thirds (17.4 x 13 mm ).
Since Olympus E-M1 II'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 Sony RX100 VII.
One other difference between these two cameras that is worth mentioning is that Olympus E-M1 II's sensor doesn't have an anti-alias (Low-Pass) filter. Removing anti-alias filter increases the sharpness and level of detail but at the same time, it increases the chance of moire occurring in certain scenes.
Below you can see the RX100 VII and E-M1 II sensor size comparison.
As seen above, Olympus E-M1 II has a 1.9x Larger sensor area than Sony RX100 VII. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in 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. Sony RX100 VII and Olympus E-M1 II sensors have been tested by DxO and the results show that E-M1 II has a better overall score of 80, 17 points higher compared to RX100 VII's score of 63.