Oh, I wasn't getting as fancy as anybody's sensor stack or anything like that. I just meant smaller lenses which didn't need to decide to have an image circle that covers S35 or any other larger sensors. The Laowa 7.5mm that you mentioned is a fantastic example of a lens designed for Micro 4/3 and I'd be shocked if its image circle would cover S35.
I'd contrast that with something like a Rokinon Xeen. You can go buy one with an MFT mount, but it'll be the same design/glass that you'd find on the same model of Xeen for FF. It'll work fine, of course - but the lens is bigger and heavier than it needs to be. In that case, of course, there's an EF mount version which would make more sense on a focal reducer.