The Z50 is not a match for the D7500 in terms of performance when shooting action and fast-moving subjects. It has a slower burst rate and weaker subject tracking than the D7500. It does have the same sensor as D7500 and D500 so it's capable of the same dynamic range and noise performance. Image quality is the same. The Z50 also has weaker weather sealing than the D7500.
Benefits of the Z50 are a smaller and lighter body, and the benefits of using an electronic viewfinder cannot be overstated. I've grown so enamored with the EVF on my Z6II and my wife's Z50 I'll never go back to a DSLR again. I swapped my D7500 for the Z6II, but I would not do that for a Z50. In my view it's a step backward in camera capabilities. Having said that, if I also had a D500 like you, then swapping the D7500 for a Z50 may make more sense since you have the D500 for serious action work.