By mean-weighted averaging of x number of readings with or without highlight and shadow inclusions.
The stepless shutter in the OM4 means the shutter speed can be higher or lower than the numbers you see and also vary during the exposure (like many stepless shutters). The mathematical 'how-to' is irrelevant and cannot be accurately determined by conjecture.
When Asahi Pentax introduced in 1970 the Electro Spotmatic, that was one of the advantages of the Aperture-Priority system highlighted. On the ES and many other Aperture-priority the shutter is stepless, but it is "locked" at time of pressing the shutter button.
The OM-2 and -4 had a real time shutter adjustment during exposure via OTF.
I don't believe the Canons you mentioned have an OTF system for ambient light, only for the flash.
As far as I remember from my own EOS-1N and -3, the Evaluative meter relies in SPD cells housed in the prism, unless I'm very much mistaken.
And so, they can't be seeing changes in exposure value when the mirror is up and the shutter is open.
What you might be referring to is the "cybernetic" capability, i.e. the EOS will switch to an appropriate shutter/aperture pair if one chooses a value not available.