Ilkka,
The FV (lock) (assigned to the Fn2 button), functions to the extent that it fires preflashes and locks the flash exposure but the resulting flash exposure blows out the subject. I'm guessing about 2 to 2.5 stops of over exposure.
I've tried everything I can think of: [TTL][BL], [TTL], manual exposure, aperture preferred, programed mode. I've tried Matrix and Center Weighted metering. I tried spot meter with the SB-400 and SB-700 which is supposed to force Standard iTTL. I've tried turning off flicker control, etc. Again this is with an SB-400, SB-700 and SB-800. The only mode that doesn't cause over-exposure is [AA], Auto Aperture with preflash which with my speedlights is only available with the SB-800. [AA] uses the sensor on the face of the SB-800.
The flash exposure I get with the Z8 without FV (lock) are as expected with all my speedlights. There was only one reply that didn't solve that person's problem.
I know there are compatibility issues with the SB-800 and Godox/Flashpoint triggers and receivers that are not present with the SB-700. I got gross under exposures with the SB-800 in iTTL mode unless I used FV (lock) with my D850. With FV (lock) the exposures were fine. If framing and focus remain constant I should get the same flash exposure with and without FV (lock). With a DSLR I found flash exposure consistent with FV (lock) followed by recomposing and that I believe is one of the prime reasons for FV (lock). Maybe there are compatibility issues with my speedlights that are solved with the SB-5000.
I read on Dpreview someone having the same over exposure problem with a Z8 and FV (lock).
Dave