The S1 II mechanical shutter FFTs shared previously show what appears to be significant noise filtering across all channels, which implied the S1 II's PDR advantage was the result of NR. With the working theory now shifted toward Dual-Gain Output, those FFTs may instead be the result of the method Panasonic is using to blend the Low-Conversion / High-Conversion Gain readouts, although it's not immediately clear why any such algorithm would resemble noise filtering on FFTs.
Here is a comparison of the ISO 100 blackframe FFTs for the S1 II Mechanical and Electronic shutters, along with the Z6 III Electronic shutter, which should be the same as its mechanical shutter since unlike the S1 II, the Z6 III has the same noise performance for both shutter types.
Charts: 2D FFTs for ISO 100 Blackframes
The only significant filtering on the S1 II's electronic shutter is the blue channel, which is likely PDAF interpolation and present on the Z6 III's blue channel as well.