Thank you very much, Songmatin, for your efforts - and so quickly! I really enjoyed your 25mm 1.2/1.4 test last time and was wondering when someone would compare the 45/1.2 and 42.5/1.2!
From your full res photos, it appears that the Oly and Panasonic not only share similar specs but they also render in a very similar way. Both are equally sharp, not that much difference in terms of green/purple blooming around highlight or OOF areas - when not viewed at 100%, the Olympus shots just look like you've cropped the Panasonic shots a little (exactly what you'd expect going from 42.5mm to 45mm).
On closer inspection however, I do prefer the Olympus. There is substance in Olympus's marketing about the soft bokeh - the OOF discs are rounder with softer edges, and in general high contrast OOF areas look softer and less nervous than the Panasonic. But, it is subtle.