Since the Sense 6 update for One M7 contains the Sense 6 camera (or parts of it at least), which means that the camera UI is redesigned.
So, yes: Panorama is still there (at least on my regular unlocked Swedish One M7).
Open Camera app, Tap the Scene selector (standard Scene is Auto).
Select the 4th icon from the left. And just follow the Sweep Panorama guide. That’s it