According to the docs, APCu is still using the same configuration as for APC which includes defining the amount of memory to be used
apc.shm_size = 32M
But Opcache has it's own configuration for memory:
opcache.memory_consumption = "64"
Does the amount allocated to APCu come out of the total memory_consumption setting for Opcache? Or are they separate?
They are separate, because they are separate modules and so would not want to share memory space.
Since APCu now is only a data-cache (something opCache cannot do), you might not need as much space for APCu either - depending on how much data is being stored.