$K$-theoretic DT/PT correspondence for toric Calabi-Yau 4-folds

Recently, Nekrasov discovered a new "genus" for Hilbert schemes of points on $\mathbb{C}^4$. We conjecture a DT/PT correspondence for Nekrasov genera for toric Calabi-Yau 4-folds. We verify our conjecture in several cases using a vertex formalism. Taking a certain limit of the equivariant parameters, we recover the cohomological DT/PT correspondence for toric Calabi-Yau 4-folds recently conjectured by the first two authors. Another limit gives a dimensional reduction to the $K$-theoretic DT/PT correspondence for toric 3-folds conjectured by Nekrasov-Okounkov. As an application of our techniques, we find a conjectural formula for the generating series of $K$-theoretic stable pair invariants of the local resolved conifold. Upon dimensional reduction to the resolved conifold, we recover a formula which was recently proved by Kononov-Okounkov-Osinenko.