The overall superfat would be the weighted average between 20% and 5%. If the two soaps are 50:50 of the total, then the superfat would actually be (20+5)/2 = 12.5%.
An analogy: I have 4 candies and you have 2 candies. We pool them together for a total of 6 candies. If there was only one of us, that one person would get all 6 candies. But there's two of us, so the 6 candies have to be spread between the two of us. The end result is you get 3 candies and I get 3 -- we don't both get 6 apiece.
As far as the overall properties of this two part soap, I agree with HM. The end result is not going to be any different really than making an all-blended-together coconut and olive soap. You might be fine with a CO-Olive soap at 12.5% superfat regardless of how you make it. Some folks don't mind a high % of CO in a soap if the superfat is on the higher side.