Just to clarify, would setting the aperture on a chipped AI lens using the aperture ring work on a Zf or would the aperture need to be set on the body?
No, or Yes. It all depends on the technology applied.
Viltrox and Voigtländer make native Z lenses for which you can set the aperture directly on the lens and this is communicated electronically to the camera. This is accomplished without any mechanicl aperture lever in the lens. The camera will electronically stop down the lens correctly when the shutter release is operated.
For a 'chipped' F-mount lens on the FTZ or similar adapter, there is an aperture lever on the front side, but not on the rear, ie. facing the Z camers. Neither is there any aperture follower. The information sent to the camera via the electronics in the adapter is what aperture the lens will stop down to, when the aperture lever is released during the exposure. Since there is no aperture follower, the camera cannot know what setting is set on the lens, unless the nominal setting is relayed to the Z body via the FTZ/FTZ.2. I deliberately say 'nominal' as there is nothing preventing you from rotating the lens aperture ring to say f/4 whilst the chip tells you intend it to be f/8 or something else. The release of the aperture lever from the camera's side, at exposure time, will stop down the lens to whatever value commanded by the actual aperture set, or, to the end position controlled by the physical ring position. Thus, if you set by default the lens to the minimum aperture f/22 or whatever, all is working as expected. Otherwise gross overexposures can occur.
