It's fun but risky to speculate about this. We won't know for sure until release. But here I go.
This market expects a smaller body and lens. I don't think they will use the standard Nikon F mount this time, because getting rid of the mirror is one key to making the body a lot smaller. They will probably have no mirror and shorten the registration distance to make the system more compact. They may have an adapter like the Olympus MF-1 to allow mounting F mount lenses though.
Olympus MF-1 OM Adapter 260231 B&H Photo Video
I suspect they will keep the sensor size the same. It saves development time and money. But I do hope they release soon, or risk really falling behind the market.
As an aside, consider what Nikon did the last time they shrunk the SLR. During the film era in about 1997-2000, Nikon made a smaller SLR family called the Pronea line. It had a mirror, but the mirror was smaller due to the smaller APS frame size. See:
Nikon Pronea S
Pronea is long gone now, but the APS film size became the standard DX sensor size for Nikon and the lens mount was the standard Nikon autofocus F mount, but with some extra plastic to make the IX Nikkor lenses not fit on standard Nikon film bodies. Some IX zooms would hit the mirror of a standard film body. Standard Nikon AF lenses did fit the APS bodies -- you could even mount the 18-200mm DX lens, but it drained the battery too fast for practical use. The electrical interface was the same. For fun, I have converted a few IX lenses by cutting off the interfering bumps and they do work on all Nikon bodies, although they sometimes hit the mirror (the 60-180, for instance). The lenses were tiny, all plastic, but petty good optically. I still use them from time to time as a stunt.
But this early example shows how Nikon leveraged a lot from their standard F mount cameras to gen up a smaller camera family. Will history repeat?