The truth is that with the leaps forward in sensor and processing performance over the past fifteen years, plus jpeg editing controls that now rival the powers of RAW editing of yore, many current and contemporary digital cameras can produce print-quality, display-quality, publishing-quality jpeg photos that couldn't have been dreamt of ten or fifteen years ago. There is an entire cult of people in the Fuji APSC crowd who revel in shooting only jpegs using that brand's so-called "filmsims," customized "recipes," and jpeg editing functions. And the results often look beautiful.
Fuji is hardly unique to this, they're just better at marketing these options and amenities--most of the other brands have parallel jpeg profiles and editing/processing tools. Sure, the bigger the sensor format, the better the jpeg possibilities, and ample resolution is also a key ingredient---but the 20mp m43 camera you mention has abundant capacity to deliver super-nice jpeg results given optimal exposing, good shooting technique, and proficiency with available jpeg editing functions. You mention your EM10Vl---taste in this stuff is personal and subjective, but IMHO Olympus is one of the brands whose color science puts out lovely SOOC jpegs needing minimal tweaking-to-taste with available jpeg editing controls if you have that "great negative" to start with.
There is a puritanical, politically correct "Only RAW Will Do" gatekeeping mentality among many digital users who frequent gear and photo forums. If RAW isn't working for you, feel free to unabashedly throw off jpeg shame and jpeg inhibition and focus instead on the shooting part of the equation to ensure you have a "great negative" to start with in your digital darkroom. Noise avoidance is better implemented at the shooting stage than at the post stage anyhow. You always have the option of getting RAW back into your toolbox if you want. But today's sensor and processing performance is such that you may not want to given strong subject choice, composition, understanding of light, shooting and exposure technique, and adeptness with available jpeg editing controls.