The Android 5.0.2 Lollipop firmware update for the Xperia Z3 and Xperia Z3 Compact does not include any kind of manual camera setting support. The screenshot below says it all. It comes from an application called “Manual Camera Compatibility” that detects whether a Lollipop enabled device will support various manual camera settings (manual focus, WB, ISO, shutter speed & RAW support). For Sony Xperia devices, the answer is that we get no support for any manual camera setting. This may change in future updates, but this is how it stands right now.
Update: Just to clarify, what we are referring to here is the Android Lollipop Camera2 API, which Google included within the Lollipop update. If a manufacturer has opened these settings, it allows third-party applications to access the full range of manual camera settings. We fully expect that Sony will continue to provide manual settings within its own camera app such as White Balance, ISO etc.