They won’t talk specifics (nothing new for a public company), but they’ve had the FF line on the market for over a year now. Since then, they did introduce an new M43 camera earlier this year (G100) that was aimed at Vloggers, and they had a pretty big firmware update to the G9 late last year.
The S5 is pretty much double the price of the G9, so again, it’s hard to make such an equivalent comparison to say one is replacing the other. The FF model is a much bigger investment. Looks like a pretty nice camera body though.