YI M1 has a 20.0MP Four Thirds (17.3 x 13 mm ) sized CMOS sensor . On the other hand, Nikon Z50 has a 21.0MP APS-C (23.5 x 15.7 mm ) sized BSI-CMOS sensor and features Expeed 6 processor.
One other difference between these two cameras that is worth mentioning is that Nikon Z50'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 M1 and Z50 sensor size comparison.
As seen above, Nikon Z50 has a 1.6x Larger sensor area than YI M1. 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.