With Constant Preview 'on', during half-press the aperture *usually* remains at the f-stop chosen by the user for the exposure.
On my lower end Pannys (from G1, GX1, GX7, GX85, GX9 & G85), it will be so only in M mode. Because in M mode, Preview (if CP = ON) is the default viewing mode instead of LV.
Under A/S/P, when CP = ON, I can hit a fn key, which having Preview mapped to, to activate Preview on ad hoac basis. It means that Preview will replace LV (f/stop opens/closes to the set f/stop to obtain the data to simulate an image) for exposure setting/DoF guidance. Preview will be cancelled and will then return to LV mode on half pressing of shutter button or hit the Preview assigned fn key!
However, I noticed that sometimes, maybe 10%, the camera opens the aperture one or more f-stops, not necessarily to max aperture, during half-press, apparently to better seek focus for a difficult subject. Same behavior using both AFS and AFC focus control.
AFAIK Preview is independent from AF.
I used the Lumix 25mm f1.7 lens on my G9ii to investigate the issue. I could see the position of its aperture blades by looking from the front.
The behavior I describe is good for me - it seems to 'correct' the focus shift I have sometimes noticed, making me more willing to trust this lightweight, fast lens. The appearance in Playback is a close match to what I saw in the viewfinder as I prepared to shoot. I shoot mostly in A mode with Auto ISO.
Not sure how CP (actually Preview mode) will work on G9-2. On my Pannys when the shutter speed will be @ 0.5" or slower, the refresh rate of Preview will become laggy to reflect the Shutter Speed effect. The slower the shutter speed the more laggy of the image in evf/LCD. It could make operation nearly impossible.
Therefore under very low lighting condition I shall use Preview to monitor the exposure only under P/S/A mode and shall cancel it for composition, focusing and shooting. Under M mode, I shall disable CP for those situations, activate CP for exposure setting only. Luckily my lenses do not suffer much on focus breathing

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